CNN to invest $10 mn in news gathering operation

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The Cable News Network (CNN) has announced a major reorganization and expansion of its international news gathering operation with an investment of USD 10 million, creating 16 new reporting posts in India and other countries in a drive to drastically reduce its dependence on news agencies.

The global television network owned by the largest media company Time Warner Inc said it will end its 27-year-old relationship with Reuters and invest the money saved into expanding and streamlining its own international operations.

The company will reduce its workforce by just under 10 per cent, or approximately 400 members of the News Group staff, over the coming weeks.

Approximately one-third of these positions are current CNN Interactive staff, with another third from Programming and the remainder from different areas across the company.

Though it was not immediately clear how much CNN would save by discontinuing Reuters service as both were not giving the figure, some media reports put the figure at about 3.5 million dollars.

CNN said it would stop using Reuters text, photography and television material from as early as Friday. But it will continue to use the news provided by Associated Press and Associated Press Television.