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550 Buyouts, Layoffs Imminent at Turner; HLN, CNN Among Cuts (Exclusive)
By Tony Maglio and Sharon Waxman
TheWrap
Some 550 buyouts are to be offered at Time Warner's Turner network this week, including a large number of those at CNN and HLN, which will lead to layoffs if they are not taken voluntarily, according to an individual with knowledge of the network's plans.

The buyouts will come across the Turner division, with a couple of hundred expected at CNN and HLN, the individual said.

A CNN spokeswoman had no immediate comment.

Also read:  Glenn Beck's The Blaze Talks to Time Warner About Replacing HLN

News of the buyouts comes shortly after Turner Broadcasting System CEO John Martin revealed in an internal memo Tuesday that corporate restructuring was coming in the next two months.

"Division leaders now are reviewing the working groups' reports on their respective areas of oversight," Martin wrote. "Over the coming weeks, they will work with me to finalize the organizational changes we will implement."

Also read: CNN's 'New Day' Problems: Network Testing Different Pairings for Chris Cuomo (Exclusive)

Time Warner-owned Turner is the parent company of HLN.

Martin's note also stated that the company will "start 2015 a more streamlined, nimble and efficient company focused on driving programming, monetization and innovation, in a culture that emphasizes and rewards continuous improvement."

Also read:  Ferguson Coverage Propels CNN 'New Day' to All-Time High

HLN has been struggling in the ratings, regularly finishing fourth in total viewers and in primetime across the key cable news demo, viewers 25-54. It did edge out MSNBC in the demo across a total day measurement in 2014's second quarter.

CNN's ratings have been doing well during times of big, national breaking news — but the cable news net regularly ranks far behind Fox News and battles with MSNBC probably more than it would prefer.

See video:  Cop Who Pushed CNN's Don Lemon in Ferguson Suspended for Hate-Filled Speech Against Women, Gays, Muslims and Obama

Last week, TheWrap reported that Glenn Beck's The Blaze was in talks with Time Warner's CNN to replace sister cable news network HLN. The Blaze offered Time Warner two proposals, but neither went anywhere. Time Warner has been in talks with the online news network Vice, cofounded by Shane Smith. No deal is in place there either.

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