CNN to Invest $40 Million in Its Video Startup Great Big Story
- Startup to shift from social distribution to 24-hour channel
- Great Big Story said to be valued at as much as $250 million
The Winners and Losers of the TV Streaming Wars
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CNN will invest $40 million over the next two years in Great Big Story, transforming the in-house social video startup into a 24-hour streaming channel.
Time Warner Inc.’s cable-news network launched Great Big Story in 2015 to make short videos about offbeat places and people, like a mountain climber with no arms or legs, or the inventor of the Dothraki language from HBO’s “Game of Thrones.” The goal was to distribute videos on social media to reach millennials who don’t watch CNN on television.