Nine Media Corporation (NMC) announced on Monday, January 29, 2024, the heartbreaking decision to shut down all news and production operations for CNN Philippines, effective January 31st.
This marks the end of the network's nine-year journey, leaving a void in the Philippine media landscape.
The closure comes amidst significant financial losses sustained over the past years, despite "rigorous efforts to adapt and innovate" in the ever-changing media environment. As CNN Philippines stated in a Facebook post, "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."
The final day of live airing was Monday, January 29th, marking a poignant conclusion for the network's dedicated staff and loyal viewers. CNN Philippines expressed its gratitude to all stakeholders, including its employees, partners, and CNN Worldwide/Turner Broadcasting Corporation, for their unwavering support throughout the years.
Financial challenges had been plaguing CNN Philippines for some time. Recent financial statements revealed net losses of Php 239.7 million in 2022 and Php 231.4 million in 2021.
Launched on March 16, 2015, CNN Philippines replaced 9TV and became the fifth local franchise of CNN in Asia. It leaves behind a legacy of impactful journalism and dedication to delivering news with international standards.
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