CNN Philippines ceases operations on Jan 31 | Inquirer Business

CNN Philippines ceases operations on Jan 31

MANILA  —CNN Philippines has formally announced that it would shut down operations, expressing gratitude to its staff, partners and viewers for their support over the past nine years.

In an advisory on Monday, the broadcaster said it would “discontinue operations on all media platforms effective Wednesday, Jan. 31.”

The network reportedly lost more than P5 billion as it tried to compete with media giants on free television.


READ: CNN Philippines shutting down as losses exceed P5B


“To our staff, we thank you for your commitment and dedication,” CNN Philippines said. “To our partners, including CNN Worldwide/Turner Broadcasting Corp., we are grateful for your support.”

“To our loyal viewers, thank you for giving us purpose. We are honored to have served you,” the media corporation added.

READStation 9TV rebrands as CNN Philippines

CNN Philippines first aired in March 2015 using RPN 9’s free TV frequency after Nine Media Corp. secured a licensing deal.  The TV frequency will now revert to government control.

Nine Media is among the companies under the ALC Group of Companies that include other media entities like Business Mirror, Philippine Graphic, Pilipino Mirror, Aliw Channel and Cook Magazine.


In its announcement, Nine Media Corp. said it is “aware of the impact of this closure” on its employees and talents, and will be “providing severance packages to affected staff.”


But on Friday, when news of the network’s shutdown first emerged, the National Union of Journalists in the Philippines (NUJP) expressed worry that media workers at the TV network may have been the last to know about its financial status and the decisions that would ultimately lead to its shutdown.

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“It is cruel to have to find out about your company’s potential plans from news reports and from gossip instead of from leadership that expects media workers to be on call and updated on issues of the day but are silent on pressing workplace issues,” NUJP said.


TAGS: CNN Philippines, losses, shutdown

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