AT&T Inc (NYSE: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.
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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 (NASDAQ: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 (NASDAQ: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.
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