CNN Worldwide announced it is embarking on a massive reorg effort to take back control of the content it broadcasts and publishes. It is creating a London-based digital production unit to produce and feed content to CNN’s alternative distribution platforms including VOD and IPTV services, its website CNN.com, and CNN Mobile. CNN International’s EVP and MD Tony Maddox said the move was all about owning the content, giving them the power to move more quickly into developing new business models.

Earlier this year, CNN ended its 27-year relationship with Reuters, (NSDQ: RTRSY) saying it would plough the money saved from the contract - said to be $3.5 million (£1.7 million) - back into its own newsgathering. Aside from the new digital production unit, CNN plans to up the number of global correspondents, open a bureau in the United Arab Emirates and invest heavily in its wire service.

• CNN Drops Reuters; Wants To Focus On Own News Gathering; $10M Or $3.5M Yearly Value?
• The CNN-Reuters Breakdown: The Difference Between $3.5 Million and “Less Than $10 Million”