CNN Philippines will no longer operate starting January 31, 2024, the Nine Media Corporation (NMC) announced Monday, January 29, 2024.
In a statement, the NMC, which operates CNN Philippines, said the management came up with the decision due to “significant financial losses sustained over the past years” despite 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,” it said.
“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,” it added. (TPM/SunStar Philippines)