Nine Media Corporation
NOTE: On Jan. 31, 2024, Nine Media Corporation shut down CNN Philippines and CNNPhilippines.com due to “significant financial losses sustained over the past years.” Its license to use the CNN brand was supposed to expire in December 2024.
Nine Media Corporation was mainly involved in television and online media. It used to operate the local brand of American media outlet Cable News Network (CNN) for its television channel CNN Philippines and cnnphilippines.com. It officially shutdown CNN Philippines on Jan. 31, 2024 due to “significant financial losses sustained over the past years.”
Its license to use the CNN Brand was supposed to expire in December 2024.
CNN Philippines claimed to be the “only predominantly English-language channel” on free-to-air television. It also maintained the news website cnnphilippines.com. Since its debut in 2015, it continued to struggle keeping up with big competitors like GMA and TV5, who have been in the business longer and have captured larger audience shares.
Based on Reuters Institute’s Digital News Report 2023, CNN Philippines channel and its news website both obtained 24% of 2,284 survey respondents as a weekly source of news.
Following the CNN brand’s programming lineup, Nine Media Corporation positioned the station to be heavy on political commentary and analysis, round-the-clock news updates and coverage of special events, and a handful of health, culture, sports, and lifestyle shows, unlike its rivals which were heavy on entertainment programs and drama series.
Corporate records show the ultimate owner of CNN Philippines to be Maria Farah Z.G. Nicolas-Suchianco through the financial holding company Broadreach Media Holdings, Inc.
CNN Philippines was one of eight media entities under the ALC Group of Companies, a conglomerate founded by Antonio Cabangon-Chua with various businesses such as banking and finance, hotel and restaurants, real estate and property development, memorial care, insurance protection and automotive dealership. Dominic Edgard A. Cabangon, son of Cabangon-Chua, is the chairman of the ALC group, Nine Media Corporation and JRLT-JHI Corp.
Mother Company
Broadreach Media Holdings, Inc.
Business Form
Private
Legal Form
Stock Corporation
Business Sectors
Missing Data
Individual Owner
Other TV Outlets
CNN Philippines
Other Radio Outlets
Radio Philippines Network
Other Online Outlets
cnnphilippines.com
Media Business
Missing Data
Business
Missing Data
General Information
Founding Year
2010
Affiliated Interests Founder
Missing Data
Employees
281 (as of June 19, 2023)
Contact
Upper Ground Floor, Worldwide Corporate Center, Shaw Boulevard, Mandaluyong City, Philippines 1552
Telephone No.: (632) 8548-4688
cnnphilippines.com
Tax/ ID Number
007-540-781
Financial Information
Revenue (Financial Data/ Optional)
7,166,143.21909 US$ / 407,294,916 PhP
Operating Profit (in Mill. $)
Missing Data
Advertising (in % of total funding)
5,396,451.914,288 US$ / 306,712,741 PhP
Management
Executive Board
The public identifies CNN Philippines with Ramon S. Ang, president and CEO of San Miguel Corporation. But the name of Ang is never mentioned in the corporation papers related to CNN Philippines.
chairman of the ALC Group of Companies, is concurrently serving as chairman of the Nine Media Corporation and JRLT-JHI Corp. He holds various positions in companies under their conglomerate such as chairman of the Citystate Savings Bank, Eternal Gardens Memorial Park Corporation, and the Filipino-language daily tabloid Pilipino Mirror. He is also the president of Citystate Tower Hotel and Asian Security Agency.
a certified public accountant, concurrently serves as the president of Nine Media Corporation and as treasurer of its parent company JRLT-JHI Corp. In 1990, he began working for Cabangon-Chua as administrator. Currently, he also serves in various capacities in the ALC Group of Companies: vice chairman of the board of directors of Citystate Savings Bank; president of Philippine Graphic Publications Inc., Philippine Business Daily Mirror Publishing, Inc. and Radio Philippines Network. He is also a vice chairman in the conglomerate’s Eternal Gardens Group of Companies and a director of Fortune Insurance Group.
president, chairperson and 100% owner of Broadreach Media Holdings, Inc., the ultimate parent company of Nine Media Corporation, which owned and operated the channel CNN Philippines is also the corporate secretary of Nine Media Corporation.
concurrently serves as assistant corporate secretary of Nine Media Corporation and Broadreach Media Holdings, Inc. She is also a board member of JRLT-JHI Corp. She is a lawyer who is part of the corporate practice group led by Nicolas-Suchianco. She also serves as the compliance officer of Synergy Grid & Development Phils., Inc.
is a board member and the treasurer of Nine Media Corporation.
Non-Executive Board
Not Applicable
Supervisory Board
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Other Influential People
Missing Data
Further Information
Meta Data
In the 2022 financial statement, the Nine Media Corporation did not provide a breakdown of revenues and advertisements earned by the television channel CNN Philippines and news website cnnphilippines.com. #
Conversion rate on Oct. 17, 2023: PhP56.836 per US$1.
