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CNN Money Switzerland to close down

August 17, 2020 21.29 Europe/London By Jörn Krieger

Swiss business news channel CNN Money Switzerland will be shut down after around two and a half years.

In consultation with WarnerMedia/CNN in London, the board of directors, after a thorough examination, came to the conclusion that the economic uncertainties were too large in Switzerland and that the developments in the local advertising market did not lead to expectations of sustained profitability, according to a statement.

The Corona pandemic had a considerable impact on revenues in the past six months. “While viewer numbers have risen sharply, the company’s revenues have collapsed,” according to the statement. Business partners, who were themselves affected by the pandemic, cancelled contracts or postponed the implementation of projects.

The trustee will now initiate the liquidation of the company. In close coordination with the responsible authorities, everything will be done to limit the consequences of these decisions for the 25 employees, stresses the channel.

CNN Money Switzerland launched on January 24, 2018 as an English-language, advertising-financed free-TV service via cable, IPTV and internet. The channel targeted executives, business people and opinion leaders of international corporations and institutions based in Switzerland who are interested in financial and business news and developments.

The launch in Switzerland was part of CNN Worldwide’s ambition to roll out its CNN Money brand internationally.

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Filed Under: Editor's Choice, Finance, Newsline, Top Story, TV Tagged With: CNN, CNN Money, CNN Money Switzerland, CNN Worldwide, Corona, WarnerMedia Edited: 19 August 2020 12:47

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About Jörn Krieger

Jörn reports on the latest developments in Germany, Austria and Switzerland. Since 1992, he has been working as a freelance journalist, specialised in digital media, broadcast technology, convergence and new markets. He also takes up University lectureships, writes articles in specialist publications, and produces radio reports. Jörn is also a moderator of panel discussions at industry events such as ANGA COM, Medientage München and IFA Berlin.

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