After almost nine years in operations on free TV, CNN Philippines goes off air on January 31 amid its financial woes.
On its website, the CNN Philippines announced:
It is with deep regret that the management of Nine Media Corporation (NMC) announces the discontinuation of its news and production operations on all media platforms, branded as CNN Philippines (CNNPH), effective 31 January 2024. The decision follows significant financial losses sustained over the past years, despite rigorous efforts to adapt and innovate in a rapidly evolving and challenging media landscape.”
We are aware of the impact of this closure on our valued employees and talents, we assure all affected staff will be provided with severance packages.
We express our deepest appreciation to our dedicated team for their unwavering commitment over the years that has elevated CNNPH as a trusted source of news and information in the Philippines.
With the conclusion of CNNPH’s operations, we would like to extend our profound gratitude to our partner, CNN Worldwide/Turner Broadcasting Corporation for their support and understanding.
To our loyal viewers, thank you for giving us purpose. We are honored to have served you.
Again, we would like to extend our heartfelt appreciation and gratitude to our employees, partners, and stakeholders. Thank you for the trust.”
CNN Philippines was launched on March 16, 2015 under the brand licensing agreement between Turner Broadcasting System and Nine Media Corporation.
The news agency could have turned nine (9) years this coming March 16.
The GMA news report quoted Nine Media chairman D. Edgard Cabangon saying “We delayed the closure/termination of the franchise [deal with] CNN International because of our love for our employees.”
Today, the page of CNN Philippines social media page announced “Turning the final page of the CNN Philippines newsroom’s story. We are forever grateful for the stories we’ve shared, the audience we’ve served, and our dedicated team for their commitment to upholding the values of truth, accuracy, fairness, and accountability.”
CNN Philippines further stated, “Thank you for the privilege to tell the story of the Filipino.”
Aside from the post, no other item can be found on their Facebook Page.
An insider said that staff were made aware that the network’s “last full show” was last Friday, January 26.
CNN Philippines has over 60 million followers on its social media pages.
Last Thursday, news broke that CNN was going off the air after Nine Media and CNN agreed to discontinue their licensing deal as the company bleeds financially.
