TV5 shutting down news website InterAksyon by March

InterAksyon, the online news site of broadcast network TV5, will shut down its operations by March. The website’s closure was confirmed today in the Philippine Daily Inquirer by InterAksyon’s editor-in-chief Robbie Alampay.

“TV5 will consolidate all digital news properties under news5.com.ph,” Alampay told Inquirer.

He said, “that consolidation translates to a rationalization of manpower as well.”

TV5 is the broadcast arm of telco company PLDT.

According to Rappler, the Manuel V. Pangilinan-owned network has suffered from financial losses over the past several years. About 98 employees were laid off early last year.

All 20 of InterAksyon’s employees would be laid off, but Alampay told Inquirer that there is a chance for some to be absorbed in other units within TV5.

While its news staff has significantly reduced over the past several years, the news site is still best known for its scathing and hard-hitting editorials.

The news comes less than a week after CNN Philippines announced that dozens of their employees are going to be laid off by early February.

The Securities and Exchange Commission (SEC) also revoked news website Rappler’s business registration earlier this week for allegedly violating restrictions on foreign ownership rules. But the news website said they will continue to operate while the SEC’s decision has not yet become “final and executory.”



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