ABS-CBN has just announced that one of its signature news channels, TeleRadyo, will be ceasing operations effective June 30, 2023.
In a press statement released today, the media giant said that ABS-CBN could no longer sustain the channel’s operations given that TeleRadyo had been incurring financial losses since 2020.
“The company is deeply saddened by this closure and having to part ways with the many passionate and committed people who have made Teleradyo an important source of news and information for many Filipinos,” says ABS-CBN.
While TeleRadyo will cease operations, ABS-CBN shared that it is entering a joint venture with Prime Media Holdings Inc. The new company will produce various programs which will be supplied to broadcasters and other 3rd party platforms, including the Philippine Collectivemedia Corporation.
Under the joint venture, ABS-CBN will own a minority stake while Prime Media Inc. will be the majority stakeholder.
The former television network says that the move will allow its former personnel “a chance to find job opportunities”, as well as create a way for “accurate and balanced news” to continue to be delivered to the country.
You can read the full press statement below:
It can be recalled that ABS-CBN had been struggling for the past three years to stay afloat following the loss of its franchise back in 2020.
They have since shifted from being a television network to more of a ‘content creator’ media company (as reported in the Philippine Star).
YugaTech.com is the largest and longest-running technology site in the Philippines. Originally established in October 2002, the site was transformed into a full-fledged technology platform in 2005.
How to transfer, withdraw money from PayPal to GCash
Prices of Starlink satellite in the Philippines
Install Google GBox to Huawei smartphones
Pag-IBIG MP2 online application
How to check PhilHealth contributions online
How to find your SIM card serial number
Globe, PLDT, Converge, Sky: Unli fiber internet plans compared
10 biggest games in the Google Play Store
LTO periodic medical exam for 10-year licenses
Netflix codes to unlock hidden TV shows, movies
Apple, Asus, Cherry Mobile, Huawei, LG, Nokia, Oppo, Samsung, Sony, Vivo, Xiaomi, Lenovo, Infinix Mobile, Pocophone, Honor, iPhone, OnePlus, Tecno, Realme, HTC, Gionee, Kata, IQ00, Redmi, Razer, CloudFone, Motorola, Panasonic, TCL, Wiko
Best Android smartphones between PHP 20,000 - 25,000
Smartphones under PHP 10,000 in the Philippines
Smartphones under PHP 12K Philippines
Best smartphones for kids under PHP 7,000
Smartphones under PHP 15,000 in the Philippines
Best Android smartphones between PHP 15,000 - 20,000
Smartphones under PHP 20,000 in the Philippines
Most affordable 5G phones in the Philippines under PHP 20K
5G smartphones in the Philippines under PHP 16K
Smartphone pricelist Philippines 2024
Smartphone pricelist Philippines 2023
Smartphone pricelist Philippines 2022
Smartphone pricelist Philippines 2021
Smartphone pricelist Philippines 2020
eatud says:
Napakaganda ng #DuterteLegacy, atake sa press freedom