When Ted Turner founded CNN in 1980, he stressed how the C stood for cable, making it the first channel to be named after the then nascent TV delivery system.
But more than four decades later, the pay TV business that provides CNN with well over half of its revenue is sinking fast. CNN Chairman Mark Thompson’s mission is to adapt to a cord-free future.
Thompson’s plan comes after years of ownership changes, top management shakeups, staff cutbacks, declining TV ratings and a loss of the swagger the network had when it sparred with the first Trump administration. CNN even had to deal with public criticism from David Zaslav, chief executive of its parent company Warner Bros. Discovery, who pushed for booking more Republicans.
Last month, Thompson pressed the reset button by announcing a staff cut of 200 employees on the TV side and a $70-million investment into new products aimed at digital media users. Thompson, a former BBC and New York Times executive, called the moves a response “to profound and irreversible shifts in the way audiences in America consume news.”
CNN executives have long recognized the need to commit to a post-cable world. The company launched a direct-to-subscription service in 2022 with CNN+, which management at the time said represented the future of the company.
Ownership changes derailed that plan and now Thompson is charged with reviving it. He said CNN will launch a new lifestyle-oriented product later this year and develop a linear news stream for digital users.
