Second time’s the charm?

CNN’s boss is working off the old adage: If at first you don’t succeed, try, try again.

Two years after the launch (and subsequent fiery crash) of CNN+, the news organization is set to embark upon a renewed push into digital, according to a memo sent by CEO Mark Thompson to employees at the company.

What this digital future looks like:

• Subscription products: CNN will launch its first subscription offering later this year. Details are slim, but according to Thompson it’ll “be significantly built out of CNN.com.”
• New content: The company is launching two new free ad-supported digital offerings, one based on CNN’s original series and productions, and the other based on its Spanish-language service.
• …all generated by a reorganized newsroom. Three separate newsrooms (US news gathering, international news gathering, and digital news) will be merged under one leader. The company will also be cutting ~3% of its workforce.

Driving the moves: Cable TV – CNN’s bread and butter – is in decline. The news org’s ratings have plummeted over the last two years, more so than those of its primary competitors, Fox News and MSNBC. In recent quarters, ratings have sunk to levels not seen for about a decade.

👀 Looking ahead… Thompson previously served as CEO of the NY Times, where he oversaw a digital transformation that increased its subscribers from ~600,000 to over six million. When asked if CNN would be pursuing a subscription bundle similar to what the Times offers, he replied: “It’s a logical possibility.”