The CNN Philippines channel, which began operating in 2014 and is the only one on free-to-air television in the country that broadcasts predominantly in English, announced this Monday the closure of all its platforms as a result of the accumulated economic losses.
“Turning the last page in the history of the CNN Philippines newsroom. We will be eternally grateful for the stories we have shared, the audience we have served and our dedicated team for their commitment to upholding the values of truth, accuracy, fairness and accountability“, points out the channel in X when specifying that Wednesday will be its last broadcast.
Following the announcement, some channel workers changed their photos on social networks to black and white, as a sign of mourning for the media's closure.
The media group Nine Media Corporation, which owns the license in the Philippines for the CNN brand, informed its 300 employees during a general assembly held this Monday.
“The decision follows significant financial losses suffered in recent years, despite rigorous efforts to adapt and innovate in a challenging and rapidly evolving media landscape,” the company argued in another statement.
In 2014, Nine Media reached an agreement with the Asian subsidiary of the American company Turner Broadcasting System, a subsidiary of WarnerMedia and owner of the CNN news network, which allowed it to broadcast in the Philippines con the brand until December 2024.
A similar agreement that it currently maintains with companies in Brazil, Chile, Indonesia, India and Turkey, while in Spain the CNN+ channel, in 50% collaboration with the Prisa group, It closed in 2010.
EFE
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