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Posts tagged as “Shut down”

CCN Philippines to shut-down this 31st of January 2024

January 29, 2024

After all the reports, CNN Philippines has confirmed that the network will shutdown its operations on all media platforms this January 31, 2024. The company released their official statement on all their social media accounts as well an official statement published on cnnphilippines.com.

Here’s the full text of CNN Philippines’ official statement;

It is with deep regret that the management of Nine Media Corporation (NMC) announces the discontinuation of its news and production operations on all media platforms, branded as CNN Philippines (CNNPH), effective 31 January 2024. 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.

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.

With the conclusion of CNNPH’s operations, 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.

Again, we would like to extend our heartfelt appreciation and gratitude to our employees, partners, and stakeholders. Thank you for the trust.

It’s unclear what will happen to its employees and talents, but it will be a big blow to the country’s “the future of journalism in the Philippines”, as well as the news media landscape.