After almost a decade, CNN Philippines will finally close its curtains on January 31, 2024 due to financial losses.
CNN Philippines Shutdown
The shutdown follows unfortunate financial losses incurred by the broadcasting company in 2021. A net loss of PHP 239.7 million in 2022 and PHP 231.4 million in 2021.
A general assembly was convened to formally declare the closure. As for the hundreds of media professionals, it ended up being an opportunity to say goodbye to their peers.
The news channel posted an announcement saying:
“CNN Philippines will discontinue operations on all media platforms effective Wednesday, January 31, 2024. A trusted source of news and information, The company is accessible on free-to-air TV, cable, and digital platforms. To our staff, we thank you for your commitment and dedication. To our partners, including CNN Worldwide, and Turner Broadcasting, we thank you for your support. And to our viewers, our sincerest gratitude for your loyalty and trust over the nine years.”
In addition, reports say that the broadcasting company assures its workforce that it will extend all help needed during this transitional period and help them seek new employment and/or opportunities.
Sources 1, 2 | Featured image
Started his freelancing adventure in 2018 and began doing freelance Audio Engineering work and then started freelance writing a few years later.
Currently he writes for Gadget Pilipinas and formerly wrote for Grit.PH.
He is also a musician, foody, gamer, and PC enthusiast.
