Disgraced ‘Reliable Sources’ reporter Oliver Darcy OUT at CNN to start paid newsletter

The newsletter, dubbed "Status," describes itself as "the new, definitive nightly briefing that informs readers about what is really happening in the corridors of media power,” per a statement from the website. On Wednesday, Warner Brothers, the parent company of CNN, announced a $10 billion net loss for the second quarter and missed benchmark estimates, per the New York Post.

With the large losses, CNN has announced that it will be cutting jobs and plans on a restructuring of the company. “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,” CNN CEO Mark Thompson said in a statement. “He has been a great shepherd of CNN’s Reliable Sources newsletter, and we wish him every success in his new entrepreneurial adventure," according to Mediaite.

Darcy said of the newsletter, “There will be no sugarcoating, no pulling punches, no sparing sensitive egos — just the unvarnished truth about the companies and individuals who shape our world.”

The website states that the newsletter will cover the "powerful outlets" of "The New York Times, CNN, and Fox News."

"We also follow the media moguls, tech titans, and power players who play outsized roles in the industry and our information environment," Darcy added on a "Who We Are" page on the website. Darcy will also offer an elite membership for $595 a year, with perks like private Zoom calls.