The news network’s subscription offering hadn’t even been operating for a month before Warner Bros. Discovery announced this week that it would be shutting down on April 30.
“It’s going to be in the Top 10,” said Steve Rosenbaum, executive director of the NYC Media Lab and an expert in business innovation, surveying the lengthy history of products that went belly-up.
While “CNN minus” comments quickly proliferated, it’s no joke to the more than 300 people hired for CNN+, which was in development for two years. CNN is expected to absorb some of those jobs but there will be layoffs — a clear picture on those numbers is still emerging.
The company spent hundreds of millions of dollars on the project and no one knew when, or if, losses would be replaced by profits.
Old-timers remember the Edsel, a new car model introduced by Ford in 1957 that was poorly made and too expensive. It was discontinued after two years, costing Ford an estimated $250 million, the name remembered as a synonym for business failure long after the car itself was forgotten.
Coca-Cola’s attempt to introduce a new flavor in 1985 was dropped in weeks. Except for its cameo role in the “Back to the Future” movies, the DeLorean didn’t make a dent. Inventors of the Segway found in 1999 that not many people wanted to spend around $5,000 for a glorified scooter.
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NEW JERSEY OFFSHORE WIND FARM CLEARS BIG FEDERAL HURDLE AMID ENVIRONMENTAL CONCERNS
The federal government gave a key approval this week to an offshore wind farm in New Jersey, even as residents in the town where its power cable would come ashore worry it could go through underground toxic waste that’s still being cleaned up.
AUSTRALIA'S ONLINE DATING INDUSTRY ADOPTS CODE OF CONDUCT TO KEEP USERS SAFER
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PARENTS WILL HAVE TO SET ASIDE SOME EARNINGS FOR CHILD INFLUENCERS UNDER NEW CALIFORNIA LAWS
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SPACEX LAUNCHES RESCUE MISSION FOR 2 NASA ASTRONAUTS WHO ARE STUCK IN SPACE UNTIL NEXT YEAR
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TESLA POSTS FIRST QUARTERLY INCREASE IN DELIVERIES, BUT SHARES SLUMP WITH INVESTORS HOPING FOR MORE
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ARKANSAS SUES YOUTUBE OVER CLAIMS THAT THE SITE IS FUELING A MENTAL HEALTH CRISIS
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EPIC GAMES SUES GOOGLE AND SAMSUNG OVER PHONE SETTINGS, ACCUSING THEM OF VIOLATING ANTITRUST LAWS
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JAPANESE SPONSORS TOYOTA BRIDGESTONE AND PANASONIC END OLYMPIC CONTRACTS
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SATELLITE SERVICE DIRECTV BUYS RIVAL DISH AS IT FIGHTS THE ONSLAUGHT OF STREAMING SERVICES
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