CNN Ends 27-year Relationship with Reuters
Interesting Stuff
The CNN cable television news network announced on August 30, 2007 that they would stop using the Reuters news service including Reuters text, photography and television material. CNN has been using the Reuters news service since 1980, it will end the 27-year relationship with Reuters.
CNN, owned by the world’s largest media company, Time Warner Inc. said in an internal memo that it wanted to cut cost on agency material and invest in its own news gathering operations.
“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.”
Tony Maddox, executive vice president of CNN International said in a memo: “To advantage CNN in the content marketplace and manage the continually rising costs associated with acquired assets, we are making significant investments in our own news gathering while simultaneously reducing our reliance on agency material,”
However, CNN will continue its existing relationship with Reuters’ competitor the Associated Press and Associated Press Television News, and its affiliate deal with ITN, remains in place.