Bruce Discovery, which owns CNN, has decided to shut down marketing for the new specialized network for online broadcasting, after a lukewarm reception by viewers within a year, and the CFO of Axios has been abandoned, indicating that the network's financial problems go beyond the apparent failure. Subscription broadcast service.

Chief Financial Officer Brad Ferrer has been fired and replaced by Neil Chogani, the former chief financial officer of live and international broadcasting at Discovery, and the move is part of "a broader restructuring of the funding team," sources said, adding that other high-level positions at WarnerMedia are likely to receive The ax as Discovery, which merged with WarnerMedia earlier this month, is putting its employees in charge.

Sources say CNN executives themselves apparently believe the launch was a success, but Discovery disagrees. The platform is said to only have 150,000 subscribers, with only 10,000 tunings on a daily basis - embarrassingly low numbers considering the 300 and $1 million already spent on the project.

While the cable network initially planned to invest $1 billion in its streaming project over the first four years — at which time it was expected to break even — those numbers were sharply cut, sources told Axios. CNN+ executives' projection of 15 to 18 million subscribers over the next four years now seems out of the realm of possibility.

With ratings averaging just 857,000 peak viewers for the first quarter of this year, CNN's new management wants to give the channel a makeover and return it to its tough news roots. Channeling hard news stories, a widely open space in the cable TV scene with many US news networks.

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