Employees of CNN Philippines expressed concern Thursday over reports that the company may be shutting down soon, with some worried about losing their jobs.
A CNN Philippines staffer confirmed that the company would hold a general meeting Monday, Jan. 29, without disclosing the agenda.
A memo from Nine Media Corp., which owns and operates CNN Philippines, requested all personnel to attend the meeting at 10 a.m. in the news operations area. The memo, signed by company president Benjamin Ramos, is expected to address the results of a management-level meeting held earlier this week.
Manila Standard sought comment from Nine Media owners, but had not received a response at the time of this publication.
Employees were worried over “talks” within the company that it would not renew its licensing agreement with Turner Broadcasting System, which expires in December 2024.
The brand licensing agreement of CNN Philippines will expire by end of 2024, but there are rumors that its airing would end soon.
There is no official company announcement on the issue, but this is expected to be addressed during the general assembly next week, according to employees.
CNN Philippines describes itself as the Philippines’ only predominantly English-language channel on free-to-air television as well as on cable and pay television. It is owned by Nine Media, a subsidiary of the ALC Group of Companies, established by the late Ambassador Antonio Cabangon-Chua.
The Cabangon-Chua family also owns other media companies such as RPN, Aliw Broadcasting Network, stations DWIZ and Home Radio 97.9, daily publication BusinessMirror, tabloid Pilipino Mirror and magazine Philippine Graphic Weekly. Their other businesses include Citystate Savings Bank, Fortune Life Insurance Co. Inc., Eternal Plans Inc., Citystate Properties and Management Corp. (CPMC), Isuzu GenCars Inc., as well as several hotels and resorts in Metro Manila and the provinces.
Nine Media signed a deal with Turner Broadcasting System to launch CNN Philippines in March 2015.
Media Newser Philippines, an online site monitoring the broadcast industry, first reported the possibility of CNN Philippines winding down its operations soon.