Woke media COLLAPSES: CNN does MASSIVE LAYOFFS and Daily Beast loses MILLIONS!

CNN Worldwide CEO Mark Thompson unveiled more details of a “one newsroom” strategy to merge linear and digital newsgathering, while he announced that about 100 employees would be impacted by staff reductions.

CNN’s disgraced CEO, Mark Thompson, announced the job cuts and the launch of the FAST channels in a company-wide memo:

Thompson also announced that CNN.com will announce its first subscription product later this year. He said that the subscription offerings will be “want to use” content that will be anchored by lifestyle journalism, as part of a wider effort to build a $1 billion business.

He also announced the launch of additional FAST Channels, with CNN Originals and CNN en Espanol debuting later this year. They will be added to the CNN and CNN International FAST channels.

So CNN’s going to try and save itself the same way the New York Times has, by offering subscriptions to lifestyle stuff… You see, no one is going to subscribe to fake news, so these fake outlets have to offer something entirely different to remain alive.

Here’s what Thompson wrote about the job cuts:

Wherever possible, we’ve closed open positions rather than target currently occupied roles. However, some of our colleagues will learn today that their jobs are being eliminated or are at risk. The number of colleagues potentially impacted is around a hundred out of a workforce of more than 3,500, but I don’t underestimate the impact this news is likely to have on everyone affected and want to thank them for everything they’ve done for this great news company over the years.

The slow-motion death of cable/satellite TV made this inevitable.

The publication was on track to lose $9 million this year. New CEO Ben Sherwood revealed that it was “hours away” from being sold to private equity. Recent leadership changes involved layoffs and buyouts.