CNN+ has become a complete failure.
It has gotten so bad that CNN is already considering cutting their investment in it after dreadful numbers.
Investment and projections for CNN+ are expected to be cut dramatically in response to a low adoption rate, two sources tell Axios.
By the numbers: The news giant was initially planning to invest around $1 billion in the service over the next four years.
Hundreds of millions of dollars are expected to be cut from that original investment total.
To date, around $300 million has been spent on the subscription service, which includes a sizable marketing investment.
The new company’s leadership team still has yet to decide the ultimate fate of CNN+. CNN’s new boss, Chris Licht, will start May 1.
Chris Wallace, who left Fox News for CNN, is not happy about it.
According to Jon Nicosia, Wallace is having “daily meltdowns” and threatening to quit unless he gets a CNN show.
He is reportedly trying to get Chris Cuomo’s old time slot.
SOURCE: Chris Wallace is "having daily breakdowns" over the "miserable launch" of @CNNplus. Wants a "CNN show or is threatening to walk" they go on. "He is having staffers count how many times a day his promo is playing"
— Jon Nicosia (@NewsPolitics) April 12, 2022
This isn’t the first time it has been reported that Wallace is not happy at CNN.
Wallace also threw a fit after then CNN President Jeff Zucker resigned.
How long will Chris Wallace be at CNN?