After a general meeting with employees, the management of Nine Media Corporation (NMC) formally announced that it is shutting down CNN Philippines due to losses it had been incurring for years.
In a statement, the firm said it will discontinue the news and production operations of CNN Philippines on all media platforms effective Jan. 31, 2024. CNN Philippines first aired in March 2015 using RPN 9’s free TV frequency after NMC secured a licensing deal.
“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,” NMC said.
It noted though that, “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,” NMC added.
With the conclusion of CNNPH's operations, NMC said “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,” the company said.
NMC concluded that, “we would like to extend our heartfelt appreciation and gratitude to our employees, partners, and stakeholders. Thank you for the trust.”
In its post on X (formerly Twitter), CNN Philippines said that it is “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 to our dedicated team for their commitment to uphold the values of truth, accuracy, fairness, and accountability. Thank you for the privilege to tell the story of the Filipino.”
CNN Philippines is a free-to-air television network owned and operated by Nine Media Corporation, together with Radio Philippines Network (RPN) as the main content provider, under license from Warner Bros. Discovery.
It is the Philippines’ only predominantly English-language channel on free-to-air television. It is also available on cable and pay television.
CNN Philippines provides first-class news and information drawing on the strength and worldwide newsgathering power of CNN, and the local perspective and expertise of Nine Media Corporation.
It offers Filipino viewers a global perspective on key issues and trending stories from around the world, together with in-depth local coverage.