http://dailynews.yahoo.com/htx/nm/20010111/en/television-cnn_1.html

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Thursday January 11 2:53 AM ET
layoffs -- WSJ CNN set for large number of layoffs -- WSJ

NEW YORK, Jan 11 (Reuters) - CNN News Group, a unit of Time Warner Inc., is expected to announce a large number of layoffs as it reorganizes its TV and Internet operations, the Wall Street Journal reported in its online edition Thursday, citing industry executives.

CNN, which employs 4,000 people, warned its workers in a December memo it was planning aggressive changes and the layoffs could come as early as next week, the paper said.

CNN is not expected to lay off more than 500 to 1,000 workers, but deep cuts are expected at its interactive operations, the paper said.

Time Warner is planning to merge with Internet company America Online Inc. The Federal Communications Commission is nearing a decision on whether to approve AOL's acquisition of Time Warner.

A CNN spokeswoman said the company ``does not engage in speculation about personnel matters,'' the paper said.

Time Warner shares closed up $2.60 at $67 in trading on the New York Stock Exchange, below a 52-week high of $105.50 and above a yearly low of $48.

Reuters/Variety REUTERS

-- (perry@ofuzzy1.com), January 11, 2001