CNN Philippines is rumored to be shutting down
CNN PHILIPPINES – The only predominantly English-language news channel on free-to-air television in the Philippines, might bid farewell by the end of January 2024.
The news surfaced on January 25, 2024, suggesting that the station’s operations could cease by the month’s end due to financial losses. Originally, the licensing agreement between Nine Media Corporation (formerly Solar Television Network, Inc.) and CNN Philippines was set to expire at the end of 2024, but the company appears unable to sustain it.
According to reports, financial strain intensified due to a lack of ad placements, contributing to overall difficulties and prompting Nine Media Corp. to consider shutting down the network. Employees and staff are expected to receive separation pay, and top talents such as Pia Hontiveros, Pinky Webb, and Rico Hizon may explore opportunities with other stations.
The station might temporarily return to RPN-9. However, concerns among CNN Philippines personnel have risen, with some fearing job losses. A memo instructing a general assembly on January 29, 2024, was reportedly issued, but the agenda remains unspecified. Speculations suggest that the broadcast might continue until March 2024.
CNN Philippines President Benjamin Ramos signed the memo, and there are rumors that the licensing agreement with CNN International won’t be renewed due to financial constraints. If the agreement isn’t renewed, the station might revert to operating as Radio Philippines Network (RPN) or form a partnership with TV5.
Despite the uncertainty, the situation is yet to be confirmed, and more details are expected to emerge during the general assembly. A cryptic post by CNN Philippines reporter Tristan Nodalo, featuring the station’s black logo, adds an air of uncertainty. As of now, Nine Media Corporation has not released an official statement regarding these reports.
Meanwhile, CNN Philippines began airing in March 2015 under the ownership of Nine Media Corporation. The company also owns Aliw Broadcasting Network, DWIZ, Home Radio 97.9, Business Mirror, Pilipino Mirror, Philippine Graphic Weekly, Citystate Savings Bank, Fortune Life Insurance Co. Inc., Eternal Plans Inc., Citystate Properties and Management Corp. (CPMC), Isuzu GenCars Inc., as well as several hotels in Metro Manila and provinces.
