THE EDSEL, QUIBI AND CNN+? NEW ADDITION TO BUSINESS FAILURES
The Edsel. Quibi. New Coke. The Segway.
DeLorean sports cars. The pantheon of colossal
business failures has a new member in the
CNN+ streaming service.
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