NYT & CNN+ Leadership, Lorenz, Twitter, and Psaki | Winners & Losers in Today’s Green Room

Let the parlor games end: The New York Times has announced its next top editor.

Joe Kahn, a Pulitzer Prize-winning journalist and longtime Beijing bureau chief who was promoted to managing editor of the paper in 2016, will succeed Dean Baquet as executive editor.

In a memo to Times staff obtained by Mediaite, publisher A.G. Sulzberger announced Kahn will be taking over from Baquet in June.

The selection was widely expected: The Times has a mandatory retirement age of 65 for top editors (Baquet turns 66 this September) and in recent months, the rumor mill all but confirmed Kahn as his successor.

“For many people, especially those who have worked alongside Joe — a brilliant journalist and a brave and principled leader — this announcement will come as no surprise,” Sulzberger wrote in his memo to staff.

“Joe brings impeccable news judgment, a sophisticated understanding of the forces shaping the world and a long track record of helping journalists produce their most ambitious and courageous work.”

He cited the paper’s coverage of the #MeToo movement, the success of The Daily podcast, and the Pulitzer Prize-winning “1619 Project” as successful endeavors under Baquet.

“It is difficult to imagine a leader who could have guided our newsroom so fearlessly — and at the same time, with such grace and warmth,” he wrote.

Running what is arguably the world’s most influential newsroom is an impressive media win for an already impressive career.

Warner Bros Discovery has suspended marketing spending for CNN+ and laid off CNN’s chief financial officer, in a pair of decisions that Axios reports are tough news for the new subscription service.

CNN CFO Brad Ferrer has been replaced by Neil Chugani, Discovery’s current CFO for streaming and international, as part of what Axios terms “a broader finance team restructuring.”

“Inside CNN, executives think the launch has been successful. Discovery executives disagree,” according to the report, written by media reporter Sara Fischer, who did note CNN+ has over 150k subscribers so far – which is not nothing.

The streaming service was projected “to become profitable in four years by investing $1 billion into the service,” according to Axios, but the roll-out has been plagued with problems and bad press.

Despite CNN+ now being available on Roku, “with marketing around the service suspended, there are concerns that growth will be short-lived,” wrote Fischer.

Axios blamed “bad timing, limited communications and misaligned incentives” for the incredibly rocky rollout of the service.  Mediate founder Dan Abrams and founding editor Colby Hall discussed that misalignment, and the marketing misses, just days ago.

“Other high-level positions at WarnerMedia across different business functions are likely to be eliminated to cut costs and streamline leadership in coming weeks,” Axios added.

It’s just the latest losing moment for the fledgling streamer, and Ferrer the latest of many blows to CNN’s existing leadership.