ABS-CBN’s TeleRadyo shuts down on June 30 | Inquirer News

ABS-CBN’s TeleRadyo shuts down on June 30

/ 04:57 PM May 23, 2023
ABS-CBN on Tuesday announced that TeleRadyo, which formerly airs dzMM programs, would cease operations on June 30 due to financial losses.

ABS-CBN employees light candles in solidarity as the network’s darkest hour came in May 2020. INQUIRER file photo / Edwin Bacasmas

MANILA, Philippines — ABS-CBN on Tuesday announced that TeleRadyo, which formerly airs dzMM programs, would cease operations on June 30 due to financial losses.

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“TeleRadyo has been incurring financial losses since 2020,” the network said in a statement.

“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 business losses,” it added.

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In a related development, ABS-CBN also said it is entering into a joint venture with Prime Media Holdings Inc., in which ABS-CBN will have a minority stake while Prime Media Inc. holding is the stakeholder majority.

“This gives some of our former personnel a chance to find job opportunities,” the ABS-CBN said.

On May 5, 2020, the National Telecommunications Commission (NTC) issued a Cease and Desist Order against ABS-CBN, directing the network to stop operating its nationwide television and radio broadcasting stations due to the “absence of
valid Congressional Franchise required by law.”

READ: 

NTC orders ABS-CBN to stop broadcast operations

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TAGS: dzMM, losses, News, NTC, radio
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