CNN's new streaming service looks 'doomed': report

According to inside sources speaking to Axios, Warner Bros. Discovery has halted all advertising for CNN's struggling streaming service, CNN+. It has also fired CNN's longtime financial adviser. While CNN executives think the launch of CNN+ has been successful, Discovery executives reportedly disagree.

Discovery's current CFO for streaming and international, Neil Chugani, has replaced CNN CFO Brad Ferrer. "Other high-level positions at WarnerMedia across different business functions are likely to be eliminated to cut costs and streamline leadership in coming weeks," Axios reports.

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CNN executives are reportedly disappointed to see Discovery dismantle the service, which they saw as a potential "lifeline" for the network, saying that without the dismantling, CNN+ could have seen a growth rate that would've rivaled other print news outlets like The Wall Street Journal and The Washington Post.

Ultimately, according to Axios, the demise of CNN+ is due to "bad timing, limited communications and misaligned incentives for how CNN and Discovery got strategically misaligned on such a massive product rollout."

Read the full report over at Axios.