CNN Philippines will close due to financial problems. The company will officially cease all live news productions on January 29, 2024, and then dissolve by January 31, 2024. Aliw Channel 23 takes over.
Is CNN Philippines Shutting Down?
CNN Philippines is indeed closing down. The network officially announced its closure on January 29, 2024. The main reason was the continuous financial losses.
The decision to close down was made despite attempts to adapt to the challenging media landscape. This will have an impact on the majority of English-language content available for free in Philippines.
CNN Philippines would like to thank its viewers, staff and partners, as well as CNN Worldwide/Turner Broadcasting Corporation for their support.
The company apologized for its decision and offered severance packages to 300 of its employees.
CNN Philippines
Nine Media Corporation owns CNN Philippines in the Philippines. Radio Philippines Network is a partner of CNN Philippines. The channel was launched 16 March 2015 under license by Warner Bros.
Discovery. This is the fifth local CNN affiliate in Asia. It replaced 9TV. CNN Philippines produces and broadcasts its local content in Quezon City and Antipolo, and from its Mandaluyong HQ.
The network broadcasts RPN Channel 9 as well as regional stations. The network offers 24-hour programming on analog and digital platforms, including cable, satellite and streaming live. Nine Media Corporation, CNN, and the Philippines have agreed to shut down CNN Philippines because of financial losses and declining support.
In 2024, the network will officially stop live news production on January 29, 2024. The 31st January is the date for a complete dissolution. This decision is a part of a shift to focus on their sister channel Aliw Channel 23.
Why has CNN Philippines closed down?
CNN Philippines has shut down due to financial issues. The network has been operating for nearly nine years and announced that it will close all platforms of media on January 29, 2024.
The decision was taken due to net losses that were sustained. This included a loss P239.7 for 2022 and P231.4 for 2021. Benjamin Ramos, President of CNN Philippines, said that financial problems were the primary reason for the suspension of news production.
The high CNN license fee, which is expected to reach P139.3 million in 2022, put the network under financial strain. The English-language channel was forced to close in the Philippines despite attempts to adapt. The network will provide severance packages for its 300 employees.
