NEW YORK, Jan. 23 (Xinhua) -- Facing an exodus of viewers and a systemic decline in pay TV subscriptions, the Warner Bros. Discovery-owned news channel CNN said on Thursday it will cut 200 employees, or 6 percent, from the TV side of the business while investing in the digital operation.

"The changes we're announcing today are part of an ongoing response by this great news organization to profound shifts in the way audiences in America consume news," CNN Chairman Mark Thompson told employees in a memo.

Thompson said parent company Warner Bros. Discovery has committed 70 million U.S. dollars to the effort to develop new subscription-driven digital products.

The plans for reinvention include the development of a direct-to-consumer CNN product. "It's the early days, but we've already established that there's immense demand for it not just in America but around the world," Thompson wrote.

"The cuts were widely expected as CNN has seen its ratings drop since 2021 while cord cutting steadily erodes the revenue source that pay TV subscriptions provide," reported the Los Angeles Times on the development. Enditem

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