Manila, Philippines – Media giant ABS-CBN has announced that will be shutting down ‘TeleRadyo’, a pay television channel under its ABS-CBN News and Current Affairs (ANC) arm. According to the company, the closure was brought by financial losses it had experienced since 2020.
“The company is deeply saddened by this closure and having to part ways with the many passionate and committed people who have made Teleradyo an important source of news and information for many Filipinos,” ABS-CBN said in a statement.
TeleRadyo was founded in 2007 as the television counterpart of the commercial news and radio channel DZMM Radyo Patrol. Following the cease and desist order from the National Telecommunications Commission (NTC) to close its broadcasting activities, DZMM Radyo Patrol ceased operations alongside its other free broadcasting channels. They have then moved to TeleRadyo for continued reporting.
Following the TeleRadyo closure announcement, ABS-CBN has also announced a joint venture with Prime Media Holdings. Said venture will produce various programs, which will be supplied to broadcasters and other third party platforms including Philippine Collectivemedia Corporation.
Prime Media Holdings is the majority shareholder of the new venture, with ABS-CBN serving as a minority shareholder.
ABS-CBN also hopes that through its deal with Prime Media, they can help some of their former personnel a chance to find new job opportunities.
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