Posted on 04/24/2022 9:54:52 AM PDT by ChicagoConservative27
CNN host Brian Stelter claimed Sunday on “Reliable Sources” that the failed attempt to make CNN+ a viable streaming service was because of the merger of the new owner’s Warner Bros. Discovery.
Stelter said, “What a turbulent week for major media companies with CNN, Netflix, Disney and Twitter all left spinning with no stopping in sight. Here at CNN, new ownership decided to shut down the CNN+ streaming service less than a month after it was launched by the previous management team. The u-turn was front-page news, stunning news and painful news for everyone involved. Years of development possibly down the drain. Some of the shows may never be seen. Hundreds of staffers may be laid off, though the company is trying to place many of them in new jobs. Amid these bruising headlines, folks are trying to make sense of it. Some partisans are believing the predictable talking points about politics, but the truth is, this was a corporate move. This CNN+ service was doomed because of the timing of the merger and clashing strategies. The new owner has plans to compline multiple streaming platforms to make one big challenger for Netflix.”
(Excerpt) Read more at breitbart.com ...
Brian Stelter: CNN+ ‘Doomed Because of the Timing of the Merger’
Wait just a minute. Wasn’t CNN+ counting on the merger to provide startup capital in the area of one billion $. So the timing of the merger created CNN+ and also cancelled it? No, rather the talking heads at CNN decided that they could spend a billion $ of money that didn’t belong to them and now their pissed that they were called on it.
So you know it has to be true ...
Hey hey, goodbye
Na na na na, na na na na, hey hey, goodbye
Na na na na, na na na na, hey hey, goodbye
Na na na na, na na na na, hey hey, goodbye
“Maybe not. Isnt the merger just about to close?”
merger already closed on friday ...
Isn’t this the numb scull who was master bating on a social network? If true, what an ass!
AT&T’s bungling of its WarnerMedia misadventure will live on forever in the annals of business school case studies of sheer, gobsmacking incompetence.
That’s still second place to their simply dropping the $1Billion they spent to “launch” Cingular only to go back to the AT&T brand. Incompetence rewarded.
I don’t follow it closely, but from casual reading I gather that Discovery is cleaning house. That’s a start. But my layman’s suspicion is that the real bunglers weren’t at WarnerMedia; they were at AT&T, which bought some creative companies in a business they didn’t understand and with movie and tv studios they had no idea how to manage. Because streaming, or something. AT&T thought it had to get in on the next big thing and forgot that understanding your business is still important.
That was ATT in a nutshell!
Lots of money to burn with no viable market plan nor way to dynamically adjust/pivot to changing consumption. The mentality of “If we offer it, they will buy...” still pervades.
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