ABS-CBN to shut down TeleRadyo, announces deal with Romualdez firm
ABS-CBN to shut down TeleRadyo, announces deal with Romualdez firm
Rappler.com
MANILA – Philippine media and entertainment company, ABS-CBN Corporation, announced on Tuesday, May 23, that it was shutting down its news channel, TeleRadyo, by end of June.
In a disclosure, the former media giant cited TeleRadyo’s financial losses since 2020 after the Duterte administration ordered the network to cease its broadcast operations.
“TeleRadyo has been incurring financial losses since 2020. Since ABS-CBN can no longer sustain TeleRadyo’s operations, ABS-CBN is left with no choice but to cease the operations of TeleRadyo effective 30 June 2023 to prevent further losses,” the publicly-listed company said.
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