News organization CNN Philippines announced that it will stop airing on 31 January.

In an official statement on Monday, the network said it will discontinue operations on all media platforms.

In a separate Facebook post, EJ Gomez, a reporter for CNN Philippines, posted a video while she was clearing her desk and bidding goodbye.

“Never imagined I’d come to this — cleaning up my desk too soon. But as I pack up my things, I realize I’ll bring home all these meaningful learnings, experiences and memories with CNN Philippines. The first photo is me trying to look okay for less drama. And the second is when I found the script for my first-ever TV report. It may be a really tough time but looking at the brighter side, I know things will be okay,” Gomez said in her Meta post.

Gomez was hired in April 2023 by CNN Philippines, covering business and other beats.

“To our staff, we thank you for your commitment and dedication. To our partners, including CNN Worldwide/Turner Broadcasting Corporation, we are grateful for your support. And to our viewers, our sincerest gratitude for your loyalty and trust over the past 9 years,” the company statement read.

“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 upholding the values of truth, accuracy, fairness, and accountability. Thank you for the privilege to tell the story of the Filipino,” the caption of the post further stated.

“The decision follows significant financial losses sustained over the past years, despite rigorous efforts to adapt and innovate in a rapidly evolving and challenging media landscape,” it said.

Bloodletting

According to its financial statements, CNN disclosed that it incurred a net loss of P239.7 million in 2022 and P231.4 million in 2021.

“We are aware of the impact of this closure on our valued employees and talents, we assure all affected staff will be provided with severance packages,” the statement further said.

Further, NMC said they express their deepest appreciation to their dedicated team for their unwavering commitment over the years that has elevated CNNPH as a trusted source of news and information in the Philippines.

“With the conclusion of CNNPH’s operations, we would like to extend our profound gratitude to our partner, CNN Worldwide/Turner Broadcasting Corporation for their support and understanding. To our loyal viewers, thank you for giving us purpose. We are honored to have served you. Again, we would like to extend our heartfelt appreciation and gratitude to our employees. partners, and stakeholders. Thank you for the trust,” the company concluded.