Oliver Darcy, the writer of CNN’s “Reliable Sources” and a regular critic of his own network, made a shocking announcement on Thursday, saying he was leaving to launch a rival media service. Darcy, 33, assumed control of the newsletter following CNN’s dismissal of Brian Stelter, the writer, in 2022.
The unexpected action comes at a turbulent time for CNN, as the network is undergoing a major reorganization under the direction of new CEO Mark Thompson. Thompson recently revealed plans to eliminate 100 jobs as part of larger company changes.
Following Warner Bros. Discovery’s dismal financial results—which included a startling $10 billion net loss for the second quarter—Darcy’s departure comes as the company’s shares fell more than 10% in a single day, as reported by The New York Post. Darcy joined CNN in 2017 and is now working alone on his new project, a subscription-based periodical called “Status.”
“There are no backers. Just me,” he told The New York Post. “The paid readers will empower my independent voice.” Darcy made it clear that his new project, “Status,” would be fully self-funded and that he would need subscriber support to continue his independent journalism.
Mark Thompson, the CEO of CNN, said in a statement: “Oliver has established himself as a tough but scrupulously fair leading voice in media reporting and commentary – never afraid to call it as he sees it. He has been a great shepherd of CNN’s Reliable Sources newsletter, and we wish him every success in his new entrepreneurial adventure.”
Darcy covered the nexus of politics and media as a senior media reporter for CNN. His study mostly focused examining how news companies, particularly powerful ones like Fox News and other conservative outlets, cover political events and how they affect public opinion. Darcy’s reporting was heavily highlighted on CNN’s “Reliable Sources,” a Sunday morning program that looks at the week’s most important media stories.
“Status” now aims to combine reporting with perceptive commentary and analytical thought, addressing a wide range of subjects from Silicon Valley tech breakthroughs to the complex workings of presidential politics and the changing impact of AI on news consumption.
According to Darcy, the purpose of “Status” is to combine these various themes into a cohesive story each night in order to provide viewers a thorough grasp of how these components relate to one another within the larger media landscape.“My pitch to readers is this is a 100 percent independent voice,” Darcy said. “I don’t think there’s one product out there that does exactly what we do.”
The subscription option for “Status” will start at $15 per month or $150 annually. According to The New York Times, there is also an elite membership available for $595 a year that offers exclusive advantages including private Zoom calls with Darcy. On Monday, the first edition of “Status” will be published, ushering in a new era for Darcy’s journalism career.
CNN has faced numerous notable obstacles this year. As consumers migrate away from traditional cable television and toward streaming platforms and digital content, the network is struggling with dwindling viewership. The change has made it necessary to place a greater emphasis on digital transformation, with programs like CNN+’s launch targeted at drawing in online viewers. But shifting traditional viewers to digital subscribers comes with its own set of difficulties, especially when it comes to getting customer habits to match new media consumption patterns.
CNN has been looking into other revenue streams, including as digital advertising and subscription models, to counteract this drop. These initiatives are still in their early stages and may not be able to make up for the losses brought on by cable. CNN’s objective of being seen as a neutral news outlet is complicated by the criticism it has received from different political groups.
