NEW YORK, Nov 14 (Reuters) Time Warner Inc's CNN is planning its biggest expansion of international reporting resources in 27 years, after it ended a deal with Reuters Group Plc.
The company said today it will ''significantly'' increase the number of reporters globally, open a newsgathering hub in the United Arab Emirates, create a London-based digital production unit and invest heavily in its in-house wire operations.
CNN said the investment was in the multimillion dollars.
One source familiar with the matter told Reuters it was under 10 million dollar.
The move came after CNN decided in August to stop using the Reuters news service, ending their 27-year relationship.
Sources familiar with the matter at the time said Reuters had wanted to raise its rates from 3.5 million dollar annually to under 10 million dollar.
''This is all about owning more content,'' CNN International managing director Tony Maddox said in a statement. ''Owning the content we broadcast, publish and make available to affiliates and other platforms is the backbone of this business.'' REUTERS PY HT2305