Warner Bros Discovery (WBD), the new parent company of CNN, is to shut down the news media's streaming service just a month after it launched.
CNN+, which is only available in the US, gained 150,000 subscribers since its debut on 29 March and was funded by nearly US$300mln of investment.
The platform will now end broadcasting on 30 April and subscribers will be issued refunds, WBD said.
According to the BBC, the head of CNN+ resigned with hundreds of more workers at risk of losing their jobs.
Employees have been given 90 days to secure a job elsewhere within the company, with those unable to do so receiving a severance package.
Chris Licht, incoming chief executive of CNN said the business will be at its strongest as part of WBD’s streaming strategy, according to the BBC.
"We have therefore made the decision to cease operations of CNN+," Licht said.
WBD’s decision comes just days after Netflix had nearly US$50bn wiped off its valuation after it lost 200,000 subscribers in the first three months of the year.
Netflix warned it may lose another 2mln subscribers before July as consumers cut out streaming services because of inflation and increased competition.