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CNN Dumps Reuters

  • Bloomberg, Thursday, August 30, 2007 11:31 AM
In a cost-saving effort, CNN is ending its use of Reuters news service, according to an internal e-mail leaked to Bloomberg News. "We are making significant investments in our own newsgathering, while simultaneously reducing our reliance on agency material," reads the note, sent to employees by CNN International's Managing Director Tony Maddox.

The company needs to manage "continually rising costs" of outside content, he adds, and that means "changes to some longstanding business relationships." CNN will continue to use material from Associated Press and Associated Press Television News, a spokeswoman says, declining to discuss how much Reuters had cost.

"However, we have a multi-million dollar investment plan in place for international newsgathering that will increase the number of resources we have around the world," she adds.



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