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SCOOPLET: In a blow to their financial stability, CNN sent a letter to several of the network's freelancers this week, extending their payment terms to Net 90 (payment 90 days after invoice). The change is to "be better aligned with our corporate requirements" per letter
The letter says Turner is working with Citi to provide a financing tool for suppliers, and will provide a process to get paid faster than 90 days. It says participation is optional and more details will be provided soon.
I can tell you that this is going to put a hurt on every one of their (I'm not a CNN freelancer) financial stability. I think the public underestimates the impact this is going to have on the freelancers' personal lives. It's like asking us to finance our own paycheck.
Photojournalists for networks used to be good union jobs with benefits and a pension. All that's gone, and now many camera ops are being put on freelance 1099s/schedule C. Works well for some (like me) -- but doesn't work for everyone.
Ethical disclosure, not a big deal, but just in case: I am currently owed $400 from footage I sold in 2014 to CNN, but they are in the process of mailing me a check for it after I emailed Jeff Zucker and he intervened to get me paid.
If you are a CNN freelancer affected by this, get in touch, my DMs are open. I'd love to share your story, even if it has to be anonymous.
Here is the copy of the letter the freelancers received. Sorry for the delay. Wanted to get explicit permission from my source to post. 
