CNN Philippines released this statement
News outlet CNN Philippines officially announced on Monday, January 29, that it will shut down on January 31, 2024.
Last week, a report surfaced that the news outlet is shutting down due to financial losses. It started airing on March 2015 and a year short to a decade, the operation will be discontinued.
Just like its US mother company, the media outlet in the Philippines, it caters to news and public affairs program.
However, in recent broadcast, the network started airing entertainment shows like E.A.T, the noontime show of TVJ which is airing on TV5 and sports program PBA Commissioner’s Cup Season 48.
Reportedly, Nine Media Corp. and CNN mutually decided not to continue the licensing agreement. The reason pointed was the “significant financial losses.” It was said that employees of the network will be compensated.
On Monday, CNN Philippines released a statement on the company’s decision to shut down and this will take effect on Wednesday, January 31 on all media platforms. It is airing on free-to-air TV and cable, as well as, on different digital platforms.
The news outlet is grateful for the opportunity to tell the story of Filipino. “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,” it stated.
The network also thanked the staff for the commitment and dedication, and its partners for the support. The viewers are also deeply appreciated by the news outlet.
“And to our viewers, our sincerest gratitude for your loyalty and trust over the past 9 years,” it said.
Viewers of CNN Philippines also thanked the network for its service while some expressed that this news broke their hearts.