Media

CNN+ IS DOA: Marketing Spend Frozen, CFO Laid Off in Epic Failure

posted by Hannity Staff - 4.19.22

It sounds like CNN+ is headed for the dustbin of history.

According to a new report from Axios, CNN has frozen all marketing spend for the dead-on-arrival streaming platform; the network has also fired CNN CFO Brad Ferrer. Only 150,000 subscribers have been reported so far.

According to Axios…

  • New leadership has replaced CNN CFO Brad Ferrer with Neil Chugani, Discovery’s current CFO for streaming and international, as part of a broader finance team restructuring.
  • Other high-level positions at WarnerMedia across different business functions are likely to be eliminated to cut costs and streamline leadership in coming weeks.

“Discovery executives are frustrated that the service launched. If CNN held off launching CNN+ until after the merger, it would have been easier to pivot the company’s efforts towards something better aligned with Discovery’s goals,” the report adds.

CNN’s new leader, Chris Licht, starts May 2nd.

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