Is CNN Philippines Shutting Down? What Happened To CNN Philippines? Why is CNN Philippines Shutting Down?
by Alaguvelan M | Updated Jan 29, 2024
Is CNN Philippines Shutting Down?
Yes, CNN Philippines is indeed shutting down. The network officially announced the closure on January 29, 2024, citing continuous financial losses as the main reason for ceasing operations after nine years.
Despite efforts to adapt to the challenging media landscape, the decision to discontinue operations was made, impacting its predominantly English-language content on free TV in the Philippines.
The shutdown, effective January 31, 2024, comes with gratitude from CNN Philippines to its staff, partners, viewers, and CNN Worldwide/Turner Broadcasting Corporation for their support.
The company acknowledged the financial challenges, expressing deep regret over the decision, and pledged to provide severance packages to its 300 employees and talents.
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CNN Philippines
CNN Philippines is a TV network in the Philippines owned by Nine Media Corporation and partnered with Radio Philippines Network (RPN). Launched on March 16, 2015, it operates under a license from Warner Bros.
Discovery. The network, which replaced 9TV, is the fifth local franchise of CNN in Asia. CNN Philippines produces local programming from its headquarters in Mandaluyong and transmits through various facilities in Quezon City and Antipolo.
It broadcasts on RPN's Channel 9 in Metro Manila and other regional stations. The network runs daily on analog and digital platforms, providing 24-hour programming through cable, satellite, and live streaming. However, financial losses and declining support led to an agreement between Nine Media Corporation and CNN to shut down CNN Philippines.
The network officially ceased live news productions on January 29, 2024, with a complete dissolution scheduled for January 31. This decision is part of a focus shift towards the operations of their sister channel, Aliw Channel 23.
Why is CNN Philippines Shutting Down?
CNN Philippines is shutting down due to financial difficulties. After operating for nearly nine years, the network announced its closure on January 29, 2024, with operations ceasing on all media platforms by January 31, 2024.
The decision was prompted by sustained net losses, including a net loss of P239.7 million in 2022 and P231.4 million in 2021. CNN Philippines President Benjamin Ramos cited these financial challenges as the reason for stopping news production operations.
The high licensing fee to carry the CNN brand, amounting to P139.3 million in 2022, contributed to the network's financial strain. Despite efforts to adapt, the closure was deemed necessary, impacting the predominantly English-language channel on free TV in the Philippines. Severance packages will be provided to the network's 300 employees and talents.
Is CNN Philippines Shutting Down - FAQs
CNN Philippines is facing financial challenges, leading to the decision to cease operations and dissolve.
CNN Philippines ceased live news productions on January 29, 2024, and is set to dissolve entirely by January 31.
Financial losses, declining ratings, and a decrease in advertiser support played a role in the decision to shut down.
The network's future is uncertain, but there are considerations, including the return of Radio Philippines Network branding to its free TV affiliates.
CNN Philippines was launched on March 16, 2015, and operated for nearly nine years before the decision to shut down.