After nine years of operation, CNN Philippines is reportedly set to shut down, with an official announcement expected to be made soon. While sources have not confirmed the shutdown, they have revealed that a management announcement will be made next week. The news comes after reports that Nine Media Corporation and CNN have mutually agreed to end their licensing agreement due to significant financial losses.
CNN Philippines, which is located in Mandaluyong City and was launched on March 16, 2015, is the fifth local franchise of CNN in Asia. Employees of the network are reportedly concerned about the security of their jobs amid the potential shutdown.
According to a memo to all CNN Philippines personnel, staff have been requested to attend a General Assembly on Monday, Jan. 29, 2024. The news of the potential shutdown has caused the network to go viral on social media.
