The channel has been in the red since 2020.
On Tuesday, May 23, ABS-CBN announced the closure of TeleRadyo, one of the corporation’s news channels. According to the company, the channel that led the tele-radio revolution, “has been incurring losses since 2020” and “ABS-CBN is left with no choice to cease the operations of TeleRadyo on June 30, 2023,” their statement read.
The Kapamilya network also express sadness by the closure, as they will have to “part ways with the many passionate and committed people who have made TeleRadyo an important source of news and information for many Filipinos.”
After the bad news, comes the good as the corporation also announced that they will enter a new joint venture with Prime Media Holdings, Inc. Under this new partnership, news programs will be produced and “supplied to broadcasters and other third-party platforms, including Philippine Collective Media Corporation (PCMC),” part of the statement read. ABS-CBN is expected to be a minority stakeholder in the new joint venture, with Prime Media taking the majority stake.
Read the statement in full below.
ABS-CBN today announced important developments regarding TeleRadyo, one of its news channels.
TeleRadyo has been incurring financial losses since 2020. Since ABS-CBN can no longer sustain TeleRadyo’s operatione, ABS-CBN is left with no choice but to cease the operations of TeleRadyo effective 30 June 2023 to prevent further business losses.
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.
However, intending to find ways to continue providing news to the public, ABS-CBN is entering into 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 Philippine Collectivemedia Corporation.
Under the agreement, ABS-CBN will have a minority stake in the joint venture, and Prime Media Inc. will be the majority stakeholder.
This gives some of our former personnel a chance to find job opportunities. It is also a way to continue providing accurate and balanced news and information to the country.
Press Statement: ABS-CBN Announces Changes For TeleRadyo (May 23, 2023)
TeleRadyo was originally launched as DZMM TeleRadyo in 2007, serving as the visual feed of the Kapamilya radio station. In 2018, it became available on free-to-air television via ABS-CBN TVplus.
On May 5, 2020, when DZMM was ordered to shut down due to the cease-and-desist order of the National Telecommunications Commission (NTC), TeleRadyo was rebranded to its current name and began formally operating three days later, carrying most of DZMM’s former shows. TeleRadyo would not return to free TV until 2022, when it was carried as one of A2Z’s digital subchannels, but when the licensing agreement between Zoe TV and ABS-CBN expired, the channel reverted to being a cable channel.
Some of the shows by TeleRadyo are also being seen on the flagship cable channel of ABS-CBN, the Kapamilya Channel via a morning news block every weekday from 6:00 to 9:00 am. A simulcast of Kapamilya Channel’s ‘TV Patrol’ is also seen on TeleRadyo. It remains to be seen whether these shows will continue airing on KapCha after the end of TeleRadyo’s operations.
With the cessation of TeleRadyo’s operations, ABS-CBN will be left with only one news channel — the predominantly English-language ABS-CBN News Channel or ANC. ANC is home to shows like ‘The World Tonight,’ ‘Headstart,’ ‘Dateline Philippines,’ among others. It also remains unknown at the moment whether ANC will absorb programs from TeleRadyo after June 30.
For the next few weeks, TeleRadyo’s operations will remain business as usual in the lead-up to its June 30 farewell.
TL;DR
• TeleRadyo’s final day of broadcasts will be on June 30, 2023, ABS-CBN announced on Tuesday.
• ABS-CBN’s decision to close down TeleRadyo was due to “financial losses since 2020.
• ABS-CBN has entered a new joint-venture with Prime Media Holdings, Inc., which will see the company produce news shows to other broadcasters like PCMC.
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