CNN “Reliable Sources” writer Oliver Darcy surprisingly quit the struggling cable network Thursday, saying he plans to launch a rival media newsletter.
The 33-year-old Darcy, who has often criticized his own network, had been penning “Reliable Sources” since CNN ousted the newsletter’s former writer Brian Stelter in 2022.
His shock exit comes as the Warner Bros. Discovery-owned network is in the throes of a massive restructuring under new CNN CEO Mark Thompson, who recently announced 100 job cuts.
On Wednesday, WBD reported a $10 billion net loss for the second quarter and missed Wall Street estimates for quarterly results. The stock is down more than 10% Thursday.
Darcy, who joined CNN in 2017, said his subscription-based newsletter, “Status,” will be a singular endeavor.
“There are no backers. Just me,” he told The Post. “The paid readers will empower my independent voice.”
Darcy became a leading media voice when he took over “Reliable Sources.” Notably, in June 2023, he spoke out against his own network under then-CEO Chris Licht, who had sparked an upheaval among staffers over the exec’s perceived poor judgment and lack of leadership.
He also had his fair share of scoops, most recently exposing MSNBC’s decision to yank “Morning Joe” off the air after an assassination attempt on former President Donald Trump.
“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 boss Thompson said.
A rep for CNN said “Reliable Sources” will go on summer break but return in the fall with a new writer.
The first issue of “Status” is set to appear on Monday, and it will have a launch sponsor, which Darcy declined to name.
A subscription will begin at $15 a month or $150 a year with an elite membership, with perks like private Zoom calls available for $595 annually, The New York Times reported Thursday.
Darcy told the outlet that “Status” will cover topics ranging from Silicon Valley to presidential politics to the effects of artificial intelligence technology on news consumption.
“We are trying to connect all these dots on a nightly basis,” he said.
“My pitch to readers is this is a 100% independent voice,” he said. “I don’t think there’s one product out there that does exactly what we do.”
The newsletter will also have an ad sales partnership with The Ankler, a start-up that covers Hollywood, founded by Janice Min, the ambitious media veteran, who once helmed “The Hollywood Reporter” and “US Weekly” in its glory days.
“Status” joins a slew of newsletters from outlets like Politico, Axios, Puck and Bloomberg.