CNN Philippines is not in a hurry to terminate the licensing deal with CNN International, Nine Media Corporation said.

“We delayed the closure/termination of the franchise [deal with] CNN International because of our love for our employees,” Nine Media chairman D. Edgard Cabangon said in their interview with online website GMA News Online.

Earlier, news broke out that CNN Philippines is folding up with Nine Media and CNN agreeing to discontinue their licensing deal.

This is due to the fact that the company bleeds financially.

After the news broke of CNN Philippines shutting down, an internal memorandum was issued to all personnel of the media company.

This is to attend a General Assembly on Monday, January 29, 2024.

The agenda was not indicated in the memorandum.