On Monday, Nine Media Corporation (NMC) formally declared the cessation of news and production operations across all media platforms operating under the brand CNN Philippines (CNNPH), with the effective shutdown date set for January 31, 2024.

NMC attributed the decision to substantial financial losses incurred over recent years, stating that it comes “despite diligent efforts to adapt and innovate within a dynamically changing and challenging media environment.”

“Turning the final page of the CNN Philippines newsroom’s story. 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. Thank you for the privilege to tell the story of the Filipino.”

CNN Philippines encountered financial instability, as reported. The recent financial statements revealed a net loss of Php 239.7 million in 2022 and Php 231.4 million in 2021.

Launched on March 16, 2015, CNN Philippines took over from 9TV. It stands as the fifth local franchise of CNN in Asia, succeeding CNN Indonesia, CNN Türk, CNN Arabic, and CNN-IBN (now CNN-News18 in India).