CNN Drops Reuters
Charles Johnson
Thu Aug 30, 2007 at 10:33 am PDT • Views: 311
News from the world of huge transnational media organizations: CNN is dropping the Reuters news service.
NEW YORK (Reuters) - The CNN cable television news network said on Thursday it would stop using the Reuters news service, ending a 27-year relationship, to contain costs and invest in its own news gathering operations.
The global television news network owned by the world’s largest media company, Time Warner Inc TWX.N, said in an internal memo that it wanted to reduce reliance on agency material while achieving better control of its growth.
“This is all about us, not Reuters. This is about content ownership,” CNN spokesman Nigel Pritchard said. “Everything is changing and content ownership is king.”
Pritchard did not specify how much CNN would spend to expand its news operation.
CNN said it would stop using Reuters text, photography and television material from Friday.
Frank says: