Business media firm CNN Money Switzerland files for bankruptcy

ZURICH, Aug 17 (Reuters) - CNN Money Switzerland (CNNMS) will 
cease operations and file for bankruptcy after the coronavirus 
pandemic hit revenues, the Swiss business media company said on 
Monday.

While audience figures for the company’s audiovisual programmes 
rose sharply over the past six months, revenues contracted as 
business partners hit by the crisis cancelled or postponed 
contracts, CNNMS said in a statement.

Its board of directors came to the conclusion on Sunday that the 
uncertainty surrounding the economy and the future of the Swiss 
media market did not point to “a sustainable profitability 
solution” for the channel’s activities, CNNMS said.

The probation commissioner will preside over the liquidation of 
the company, CNNMS said.

Launched in January 2018, CNNMS is managed by a privately owned 
Swiss media company and has 25 employees. It is the only Swiss 
partner of the Turner/CNN Group brands. (Reporting by Silke 
Koltrowitz; Editing by Mark Potter)

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media-firm-cnn-money-switzerland-files-for-bankruptcy-
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