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Media Companies: Big business dominates volatile media environment

Commercial profitability, political interests, and technological advances have contributed to what Philippine media is today.

The management of Nine Media Corporation (NMC) announced on January 29 the “discontinuation of its news and production operations on all media platforms, branded as CNN Philippines (CNNPH), effective 31 January 2024” due financial losses over the past years.

At least 300 employees will be displaced by the CNNPH’s demise.

This is another blow to the media industry that has yet to fully recover from the disastrous 2020 shutdown of ABS-CBN as an act of revenge by former president Rodrigo Duterte which dislocated 11,000 employees.

The closure of ABS-CBN also drastically changed the country’s media landscape.

The duopoly situation in 2016 when ABS-CBN together with GMA Network, Inc. cornered the lion’s share of the audience and advertising revenues is no longer true.

GMA Network, Inc. is on top in terms of revenue and audience share even if ABS-CBN loyalists didn’t readily flock to them.

Adversity breeds creativity. And that’s what happened to ABS-CBN and many of its employees, who set up their own online sites and are thriving.

ABS-CBN has spread itself into several platforms and is now the country’s leading multi-media content provider.

In a controversy-loaded industry, Sonshine Media Network International (SMNI) notoriously stands out. Owned by self-proclaimed “appointed son of god” Apollo Quiboloy who is wanted by the FBI for sex trafficking, cash smuggling, among other offenses, has been suspended indefinitely by the National Telecommunications Commission for violation of its franchise.

Sources and Logo Courtesies

CNN Philippines shutting down as losses exceed P5B Accessed on 28 January 2024
Statement on the cessation of operations of the Philippines (2024) by CNN Philippines, Archive.org official website Accessed on 29 January 2024
DOLE ready to assist displaced workers of CNN PH, Sky Cable (2024), Philippine News Agency official website Accessed on 25 February 2024
FAST FACTS: The media industry’s struggles amid CNN Philippines’ closure (2024), Rappler.com official website Accessed on 25 February 2024
VERA FILES FACT CHECK: Duterte admits using ‘presidential powers’ vs ABS-CBN franchise renewal, contradicting previous neutral stance (2022), VERA Files official website Accessed on 25 February 2024
Apollo Quiboloy in the most wanted list of the U.S. Federal Bureau of Investigation Accessed on 25 February 2024
ABS-CBN Corporation logo, ABS-CBN Corporation official website Accessed on 29 January 2024
Brigada Mass Media Corporation logo, Brigada Batangas official Facebook page Accessed on 29 January 2024
Eagle Broadcasting Corporation logo, Eagle Broadcasting Corporation official website Accessed on 29 January 2024
Far East Broadcasting Co. (Philippines), Inc. logo, Far East Broadcasting Co. (Philippines), Inc. official LinkedIn account Accessed on 29 January 2024
2024 for the win: GMA Network unveils grandest offerings for the new year (GMA Network, Inc. logo) (2024), GMA Regional TV official website Accessed on 29 January 2024
MBC Media Group logo (2023), MBC Media Group official Facebook page Accessed on 29 January 2024
Manila Bulletin Publishing Corporation annual report for 2022 (Manila Bulletin logo), Manila Bulletin Online official website Accessed on 29 January 2024
Media Serbisyo Production Corporation logo (2024), Camille Postolero official Facebook page Accessed on 29 January 2024
MediaQuest Holdings, Inc. logo, MediaQuest official website Accessed on 29 January 2024
Nine Media Corporation logo, Nine Media Corporation LinkedIn account Accessed on 29 January 2024
On the makings of a visionary: Pursuing innovation amidst challenge (PhilStar Media Group logo) (2023), Philstar.com official website Accessed on 29 January 2024
Prage Management Corporation logo, Prage Management Corporation official website Accessed on 29 January 2024
Presidential Communications Office logo, Presidential Communications Office official website, Accessed on 29 January 2024
Prime Media Holdings, Inc. logo​​, Prime Media Holdings, Inc. official website Accessed on 29 January 2024
Annual Financial Report for 2020, Progressive Broadcasting Corporation Available upon purchase from the Securities and Exchange Commission
Radio Mindanao Network, Inc. logo, Radio Mindanao Network official website Accessed on 29 January 2024
Radio Veritas logo (2022), DZRV 846 (Radio Veritas) official Facebook page Accessed on 29 January 2024
FAQ: All you need to know about Rappler IQ, Rappler's Fact Check Project (Rappler Holdings Corporation logo) (2018), Rappler.com official website Accessed on 29 January 2024
SunStar Publishing Inc. logo, SunStar Cebu official PressReader Accessed on 29 January 2024
Swara Sug Media Corporation logo, Swara Sug Media Corporation YouTube Channel, Accessed on 29 January 2024
Manila Times Publishing Corporation logo, The Manila Times official website Accessed on 29 January 2024
Zoe Broadcasting Network, Inc. logo (2022), Zoe Broadcasting Network, Inc. official Facebook page Accessed on 29 January 2024

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