Mark Lee of Bloomberg News writes Thursday that cable news network CNN will stop using Reuters for coverage, according to an internal memo.
Lee wrote, “‘We are making significant investments in our own newsgathering while simultaneously reducing our reliance on agency material,’ according to the e-mail sent to employees by Atlanta-based CNN International’s Managing Director Tony Maddox today. Ranjita Menon, a CNN spokeswoman in Hong Kong, confirmed the contents of the e-mail.
“CNN, which offers international news channels in competition against broadcasters including British Broadcasting Corp., needs to manage ‘continually rising costs’ of outside content, the e- mail said. The unit of New York-based Time Warner is also seeking greater control of its news output.
“The effort will mean ‘changes to some longstanding business relationships,’ Maddox wrote.
“CNN International will continue to use material from Associated Press and Associated Press Television News, Menon wrote in an e-mail. She declined to comment on how much the Reuters service costs.”
Read more here.
