New York - Time Warner's CNN cable TV news network on Thursday announced it will end its 27-year relationship with the Reuters news service, opting to cut costs and instead focus investment on its own news-gathering, Reuters reported.

The company had used Reuters news stories both on-air and on its website; CNN will continue its existing relationship with the Associated Press.

"To advantage CNN in the content marketplace and manage the continually rising costs associated with acquired assets, we are making significant investments in our own news gathering while simultaneously reducing our reliance on agency material," Tony Maddox, executive vice president of CNN International, said in a memo obtained by Reuters.

"This is all about us, not Reuters. This is about content ownership," CNN spokesman Nigel Pritchard told Reuters. "Everything is changing and content ownership is king."

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