Connect with us

Hi, what are you looking for?

Top Stories

Editor's Pick

CNN Philippines to cease operations starting Jan. 31


TELEVISION network CNN Philippines will cease operations beginning Jan. 31 due to significant financial losses, its operator Nine Media Corp. (NMC) announced on Monday.

“It is with deep regret that the management of Nine Media Corp. announces the discontinuation of its news and production operations on all media platforms, branded as CNN Philippines (CNNPH),” the company said in a statement.

Despite efforts to adapt to the changing media landscape, financial losses prompted this move, according to the company.

CNN Philippines started operating on free TV in March 2015 through an airtime deal with Radio Philippines Network, costing P8.2 million monthly. NMC reported a financial loss of P5 billion.

Toby Allan C. Arce, head of sales trading at Globalinks Securities and Stocks, Inc., said that CNN Philippines’ closure will likely impact listed media companies if the shutdown is deemed as a broader trend in the media industry and may lead to risk for some investors.

“If the shutdown is perceived as an isolated incident due to specific issues faced by CNN Philippines, it may not have a significant impact on the overall media industry,” he said in a Viber message.

For his part, Juan Paolo E. Colet, managing director at China Bank Capital Corp., said: “It reinforces the notion that if you are a media-oriented investor, it is best to bet on an established media business with a good track record of making money.”

“The exit of CNN Philippines will favor the major news media companies, especially GMA, TV5, and ABS-CBN. The shutdown shows just how tough it is to run a profitable broadcast media business in the Philippines,” he also said in a Viber message.

“Profitability prospects in the media industry are currently challenged by the rising adoption of digital channels and growing traction of content creation,” China Bank Securities Corp. Research Associate Stephen Gabriel Y. Oli-veros said in an e-mail.

The broader reach of advertising in social media has also become a challenge for media giants like CNN Philippines, he said, noting that advertisers are using digital channels for ad placements.

“These factors could have reduced demand for the intermediary services of traditional media companies, which in turn, adversely affected one of their primary sources of income — advertising revenues,” he added. — Ashley Erika O. Jose

You May Also Like


As the world seeks sustainable and energy-efficient solutions for heating and cooling, the heat pump market is experiencing a significant surge. According to the...

Editor's Pick

FINANCE SECRETARY RALPH G. RECTO — DEPARTMENT OF FINANCE By Keisha B. Ta-asan, Reporter NEWLY APPOINTED Finance Secretary Ralph G. Recto took his oath as...


The introduction of aggressive climate objectives by global economies and growing prospects for reducing carbon emissions are driving the growth of the district heating...


In the dynamic automotive sector, consistent growth of the electric vehicle (EV) charging industry has become increasingly evident. Consumers and businesses alike are recognizing...

Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 Secrets Of Richdads. All Rights Reserved.