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CNN Slashes iPhone App Price...to Free

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CNN is getting out of the paid app business—at least for now.

The news giant was one of the first major media companies to attempt to launch a paid-content application in September of last year. At the time, CNN was looking to capitalize on consumers’ willingness to pay for various apps in Apple’s App Store. But most competitors, including FoxNews.com, MSNBC.com and Huffington Post, elected to launch free apps for the device.

Now, as CNN introduces its first app for the red-hot iPad—which is free and ad-supported—it is also dropping the $1.99 price tag for its iPhone/iTouch app.

The new CNN app for the iPad is rolling out globally; users will be able to jump between U.S. and international news content. The app features text stories, photos, blog entries and video—both live and on demand. As an added bonus, U.S. users can stream audio content from CNN Radio.

Social media sharing options are also baked into the app's functionality, said officials. Users will be able to comment on stories, as well as share them via Twitter, Facebook and other platforms.

CNN has signed on Lexus as one of its charter advertisers for the new iPad app.