11:39 AM EDT, 07/10/2024 (MT Newswires) -- (Updates with details throughout.)

Warner Bros. Discovery's ( WBD ) CNN unit will reduce around 100 jobs as part of its plan to consolidate its news operations and boost its digital business, Reuters reported Wednesday, citing an internal memo it viewed.

The news outlet will combine its news-gathering and digital news teams and roll out pay-per-view news products, among other initiatives, CNN Worldwide Chief Executive Mark Thompson reportedly said in the memo.

Warner Bros. didn't immediately respond to MT Newswires' request for comment.

The company's shares were down 2% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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