CNN Philippines announced on Monday that it will stop broadcasting on all platforms by the end of the month.
“CNN Philippines will discontinue operations on all media platforms effective Wednesday, January 31, 2024,” the network said in a statement.
The network expressed its gratitude to its employees, partners, and viewers for their support and trust.
“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.”
CNN Philippines is shutting down after reportedly losing P5 billion in the past year. Nine Media Corp., the company that operates the network, has been facing financial difficulties due to high operational costs and low advertising revenues.
The network, which launched in March 2015, has been airing news and current affairs programs on RPN 9’s free TV frequency, as well as on cable, satellite, digital, and online platforms. It has been known for its coverage of local and international issues, as well as its exclusive interviews with prominent figures.
CNN Philippines is the latest media outlet to close down in the country, following the shutdown of ABS-CBN in 2020 and the closure of several print publications in recent years.
The network’s closure will leave hundreds of journalists and media workers jobless, as well as deprive millions of Filipinos of a source of information and analysis.
