CNN Philippines

CNN Philippines Facing Closure Due to Financial Losses

CNN Philippines is set to shut down its news and production operations on all media platforms from January 31 due to significant financial losses, impacting around 300 employees.

CNN Philippines, a prominent English-language media outfit, is facing closure following significant financial losses. The network, operated by Nine Media Corporation, will discontinue its news and production operations on all media platforms starting January 31. This decision comes after nine years of continuous operations in the industry.

The closure of CNN Philippines has sparked devastation among Filipino journalists, highlighting the challenges within the media landscape. The impact of this shutdown will affect approximately 300 employees who will receive severance packages. The shutdown reflects broader struggles in the media industry, with global challenges and changing consumption habits contributing to financial difficulties.

Melinda de Jesus, the Executive Director of the CMFR, emphasized that CNN Philippines' closure signifies the ongoing challenges faced by the news business globally, indicating a 'little more darkness' for journalism. The decision to cease operations was made in light of significant financial losses, aligning with the network's necessity to discontinue operations.

In a general assembly, employees of CNN Philippines gathered to receive the news of the network's impending closure. This announcement marks an end to an award-winning broadcasting era, with journalists like Pinky Webb and Pia Hontiveros-Pagkalinawan sharing poignant moments as the network prepares to sign off.

Amidst the closure, interesting facts emerge about the challenges within the media industry, shedding light on the struggles faced by prominent news organizations. The closure of CNN Philippines serves as a stark reminder of the evolving media landscape and the uncertainties surrounding traditional news platforms.