According to an exclusive report by The Wall Street Journal, Warner Bros. Discovery's (NASDAQ:WBD) CNN is set to cut around 100 jobs and will launch its first CNN.com subscription product later this year.
CNN is said to be looking to reduce its dependence on its cable TV channel. The WSJ, citing a memo sent to employees Wednesday, said CNN Chief Executive Mark Thompson explained the television newsgathering and digital-news units would be merged into a single unit as the company focus on its digital expansion.
The CEO is said to have stated that the cuts would occur across the company, which has over 3,500 employees.
CNN is reportedly aiming to build a billion-dollar-plus digital business, although the WSJ said Thompson declined to provide specifics on the subscription product. When asked if it would compare to the Times' bundled offer, Thompson said: "It's a logical possibility."
With the company's legacy cable business declining, Thompson has worked on improving CNN's digital offerings.