The new parent company of CNN, one piece of the massive acquisition of Time Warner by AT&T that just cleared its final legal hurdle, is “moving away from its core TV audience,” The New York Post reports. The company instead plans to invest in the network’s digital news operations, according to the report, which cites The Wall Street Journal.
The Journal reported Sunday that the shift in priorities comes as more people are reading news on their phone.
“WarnerMedia Chief Executive John Stankey is planning to invest in the news agency’s apps, and to tailor coverage based on readers’ interests,” The Post reports, citing the WSJ piece.
“The legacy media company will take a page out of the playbooks of Silicon Valley giants like Facebook and Google, and use highly detailed analytics and an advertising company owned by AT&T, called Xandr, to target individual users, the paper said,” The Post reports. “The planned changes have come to light just days after the Justice Department said it wouldn’t fight an appellate court ruling that cleared the way for AT&T’s $85 billion acquisition of Time Warner, CNN’s parent company.”
The Post adds: “While the company has lost viewers to Fox News and MSNBC since 2016, growing the TV audience isn’t a ‘top priority’ for Stankey, according to the report.”