CNN Philippines has officially announced on Monday that it will shut down its operations, effective Wednesday, January 31st.
In a statement, the network said, “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.”
Read CNN Philippines’ full statement below:
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.
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