Tag: Closure

Manila, Philippines – CNN Philippines has announced that it will be discontinuing its operations across all media platforms on January 31. This officially confirms early media reports of the closure as Nine Media Corporation and CNN agreed to close the television network.

In an advisory sent out by the network on its television channel, it indicated that the cessation of its operations will roll out across free-to-air TV, cable TV, and digital platforms. This advisory has been also posted across its social media channels.

Tristan Nodalo, a reporter for CNN Philippines, has confirmed the news as well, stating that according to CNN Philippines President Benjamin Ramos, they will stop news production operations as a result of serious financial losses. This was announced during a general assembly of the network earlier this day.

“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 advisory read.

CNN Philippines was officially launched in March 2015, and was operated by Nine Media Network, with Radio Philippines Network (RPN) serving as the media’s main content provider. It was the fifth local franchisee of CNN in Asia following CNN Indonesia, CNN Türk, CNN Arabic and CNN-IBN in India.

CNN Philippines’ closure also follows the recent announcement from SKY Cable that it will cease broadcasting on February 26 in anticipation of PLDT’s acquisition to its broadcasting business.

Manila, Philippines – Coconuts, a regional alternative media company, has announced that it is shutting its online publishing operations by the end of this year, citing difficulties in keeping the media business being financially stable.

In an update article posted by Byron Perry, founder and chairman of Coconuts Media, he said that while its online component will be shut down, its BK Magazine, Soimilk, and Grove brand studio will continue operating. Moreover, the online publication will still remain up as an archive for online readers.

Perry reflects on the fact that despite all of the numerous journalism and entertainment awards they have won, these editorial and audience achievements have not converted into commercial success for the publication. Nonetheless, they are thankful to their readers, and hoped that their core mission of informing and entertaining its readers had been achieved over the span of 12 years.

“I also personally want to thank all of the staff – past and present – who have put so much time, effort, drive, creativity, and intelligence into making Coconuts great. I am truly grateful for your service and I wish you the best in your careers,” he said.

Coconuts was first launched in 2011, and serves readers in the Southeast Asian cities of Bangkok, Manila, Hong Kong, Singapore, Kuala Lumpur, Jakarta, Bali and Yangon. It previously had a two-year deal with Filipino media company ABS-CBN back in 2015 to allow both media entities to exchange news, features and video content on their respective platforms. In 2021, Coconuts Media had acquired BK Magazine, a Bangkok-based print and online lifestyle magazine.

Coconuts’ closure follows a worrying slew of media closures and layoffs, including VICE, which axed its entire APAC newsroom team back in April following the company’s declaration of bankruptcy.

Kuala Lumpur, Malaysia – Astro has announced that it is now ceasing the operations of its home shopping business Go Shop, following a strategic business review alongside Korean joint venture partner GSR. The exit officially takes effect on October 11.

According to both companies, both have agreed to cease operations of said business for significant cost-saving measures.

They also cited that there has been a significant downturn in this mode of shopping since the pandemic, and that the business closure will ensure that Astro’s resources are focused on business lines that contribute the biggest difference to the overall operations.

“Go Shop wishes to take this opportunity to thank all its customers and partners for their strong support over the past years. The Company also wishes to express their gratitude to the Go Shop team for their passion and dedication to the brand over many years,” the online statement said.

Go Shop, which was operated under Astro GS Shop Sdn Bhd, was a a joint venture established between Astro Retail Ventures Sdn Bhd, a wholly owned subsidiary of AMH, holding 60% equity interest and GSR holding the balance of 40%.

Moreover, it is not considered a material subsidiary of AMH and is not expected to have material effect on the group’s consolidated earnings per share, net assets per share or gearing for FY24.

Manila, Philippines – Independent local news portal Rappler has announced that they have received an order from the nation’s Securities and Exchange Commission to shut down the organisation, according to its CEO Maria Ressa.

Ressa announced the news during her speech at the East-West Center international media conference in Hawaii, according to a report from CNN Philippines.

“In an order dated June 28, our Securities and Exchange Commission affirmed its earlier decision to revoke the certificates of incorporation of Rappler Inc. and Rappler Holding Corporation. We were notified by our lawyers of this ruling that effectively confirmed the shutdown of Rappler,” the online statement said.

The company also added, “We are entitled to appeal this decision and will do so, especially since the proceedings were highly irregular.”

In a full 12-page statement released by SEC, it stated that the order is made due the organisation’s “violation of constitutional and statutory restrictions on foreign ownership in mass media.”

“The Company Registration and Monitoring Department is hereby directed to effect the revocation of the Certificates of Incorporation of Rappler, Inc. and Rappler Holdings Corp. in the records and system of the Commission,” SEC said.

This was not the first time Rappler has been ordered by SEC to shut down its operations. In 2018, Rappler was ordered to shut down for the same reason. According to SEC, Rappler violated the constitutional and statutory foreign equity restrictions in mass media when it issued Philippine Depositary Receipts (PDRs) that granted Omidyar Network, a foreign entity, control over the media organisation.

Rappler is the latest news organisation that has been hit with closure orders. Recently, the National Telecommunications Commission (NTC) has ordered the closure of several websites, including independent news organisations such as Bulatlat and Pinoy Weekly, that are allegedly linked to terrorist organisations Communist Party of the Philippines-New People’s Army-National Democratic Front (CPP-NPA-NDF).

Closure of news organisations have been more rampant in the Philippines in recent years, especially those that have been critical of the outgoing government led by President Rodrigo Duterte. The biggest of which is the closure of media conglomerate ABS-CBN on June 30, 2020, where they have been told to go off air in free television.