CNN Philippines to Close Down, With 300 Job Losses

Rexa Vella

CNN Philippines to Close Down, With 300 Job Losses

CNN Philippines is to close down on Wednesday, the company announced on Monday local time. The move means up to 300 jobs will be lost.

CNN Philippines was launched in 2015 under a brand licensing agreement between Turner and Nine Media Network, a Philippines company that is a wholly-owned subsidiary of the ALC Group of Companies previously launched by the late Ambassador Antonio Cabangon-Chua.

“CNN Philippines will discontinue operations on all media platforms effective Wednesday, Jan 31, 2044,” the company said in a posting on social media. “A trusted source of news and information CNN Philippines 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 / Turner Broadcasting Corporation, we are grateful for your support. And to our viewers, our sincerest gratitude for your loyalty and trust over the past 9 years.”

On X (formerly Twitter), it added: “Turning the final page of the CNN Philippines newsroom’s story. We are forever grateful for the stories we’ve shared, the audience we’ve served, and to our dedicated team for their commitment to uphold the values of truth, accuracy, fairness, and accountability. Thank you for the privilege to tell the story of the Filipino.”

The operation is understood to have accumulated losses of more than $89 million (PHP5 billion).

The closure means that 300 employees will be directly affected by the closure as well as contractors and suppliers. Nine Media Corporation’s president Benjamin Ramos reportedly said that Nine Media’s management is committed to providing a fair severance package to all employees.

More to follow.

SOURCE

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