CNN Fires Up Streaming Rivalry, Bets $350M On Streaming Service Launch

AT&T Inc T WarnerMedia owned Cable news network CNN confirmed launching a news and entertainment streaming service called CNN+ this spring, Reuters reports.

Warner had authorized CNN’s leadership to press ahead with the investment of ~$350 million in 2022 to build the streaming service, Financial Times reports.

CNN+ will feature live daily news programming, original series, true crime shows, and food and travel. It+ will be available at an initial discounted subscription price of $2.99 a month.

Related Content: Jeff Zucker Resigns As CNN President Over Undisclosed Relationship With Colleague

CNN will offer the promotional price to those who sign up within the first four weeks. Once the deal ends, the service will revert to a $5.99 monthly fee akin to Fox Corp FOXA Fox News operated Fox Nation.

Veteran television executive, Chris Licht, was named the new CNN Global Chair. Licht will assume those responsibilities when Discovery Inc DISCA completes its $43 billion acquisition of WarnerMedia.

Price Action: T shares traded higher by 0.34% at $23.90 premarket on the last check Thursday.

Photo via company website

Posted In: NewsTech

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.