The broadcast channel thanks its audience and staff prior to its shutdown on January 31.

CNN Philippines has announced that it is ceasing operations after nine years on air. The announcement was made on CNN Philippines’ social media channels. “Turning the final page of the CNN Philippines newsroom’s story,” a tweet posted on its X (formerly Twitter) account with the announcement reads. “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.” 

The Reason Behind the Shutdown

Multiple reports by fellow news platforms cite the losses incurred by CNN Philippines’ parent company as the reason behind the shutdown. 

According to a report by Nikkei Asia, Nine Media Corp., CNN Philippines’ parent company, has suffered losses amounting to PHP5 billion pesos since its first broadcast.

This was confirmed by Nine Media Corp. itself through a statement released by the company. 

“It is with deep regret that the management of Nine Media Corporation (NMC) announces the discontinuation of its news and production operations on all media platforms, branded as CNN Philippines (CNNPH), effective 31 January 2024,” the company says in the statement, according to Rappler. 

“The decision follows significant financial losses sustained over the past years, despite rigorous efforts to adapt and innovate in a rapidly evolving and challenging media landscape,” the statement adds. 

What Happens to CNN’s Employees? 

The news of CNN Philippines’ shutdown is undoubtedly a huge blow to its dedicated staff. However, the company has assured that all 300 employees and talents will receive severance packages. 

CNN Philippines likewise thanked its staff during a TV broadcast. 

“To our staff, we thank you for your commitment and dedication,” the company said during the broadcast, per Rappler. “To our partners, including CNN Worldwide/Turner Broadcasting Corporation, we are grateful for your support. 

It added, “And to our viewers, our sincerest gratitude for your loyalty and trust over the past nine years.”