The decision by CNN to close its operations in the Philippines after nine years is another indication of mainstream media’s challenges. Stating significant financial losses, CNN Philippines, a franchise of CNN International operated by Nine Media Corp, will cease operations from January 31. The closure, driven by accumulated losses exceeding $89 million, impacts 300 employees directly, signaling ongoing financial struggles in the industry.
🚨 CNN PHILIPPINES CEASES OPERATIONS
CNN Philippines closes its doors after years of broadcasting.
Sign of the dying media globally?
Source: CNN pic.twitter.com/d15XF3QBhX
— Mario Nawfal (@MarioNawfal) January 29, 2024
CNN Worldwide acknowledged CNN Philippines’ award-winning journalism but emphasized continued availability through CNN International in the country. The closure aligns with broader trends, including staff reductions at outlets like the Los Angeles Times, Time, Business Insider, New York Daily News, and Forbes.
While media cuts are concerning for staying informed, the public’s shift to alternative sources, such as Facebook and TikTok, contributes to mainstream media challenges. Despite the importance of reliable news, the industry faces declining readership and revenue, attributed to perceived biases. During the COVID-19 pandemic, mainstream media’s reluctance to present diverse perspectives raised concerns about corporate influences on reporting.
#CNN closes its Philippines channel amid mounting losses
— Newsflare (@Newsflare) January 30, 2024
Examples of liberal bias, from Russiagate to George Floyd and Hunter Biden’s laptop, have fueled criticism of mainstream media for dividing the country. Polls indicate widespread public distrust, with a majority believing media bias is worsening. Independent journalism gains significance as people reject divisive narratives driven by corporate and government sponsors.
CNN’s closure in the Philippines and staff cuts in major U.S. newspapers highlight societal discontent with mainstream media. The industry’s future is uncertain, reflecting evolving consumption patterns and a desire for unbiased, independent reporting.