CNN Philippines, the locally launched CNN station in 2015, is set to close its operations due to financial challenges, sources reveal. The mutual decision between Nine Media Corp. and CNN is attributed to substantial financial losses, leading to the non-renewal of their licensing agreement.
Initially slated to expire this year, the licensing deal faced difficulties as Nine Media struggled with the associated fees. The financial strain intensified with a decline in ad placement, contributing to overall losses and prompting the decision to shut down the network.
Despite CNN’s global recognition, CNN Philippines faced tough competition with mainstream counterparts.
In response to the shutdown, employees will receive separation pay. CNN Philippines, which first aired in 2015, promised potential but grappled with challenges. Channel 9 is set to revert to RPN 9 temporarily after the conclusion of the CNN branding.
Looking ahead, CNN is exploring options, potentially running its own operations online in the country in the near future.
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