MANILA ---CNN Philippines has formally announced that it would shut down operations, expressing gratitude to its staff, partners and viewers for their support over the past nine years. In an advisory on Monday, the broadcaster said it would "discontinue operations on all media platforms effective Wednesday, Jan. 31." READ: CNN Philippines shutting down as losses exceed P5B "To our staff, we thank you for your commitment and dedication," CNN Philippines said. "To our partners, including CNN Worldwide/Turner Broadcasting Corp., we are grateful for your support." Last week, the news about closure of CNN's local unit due to financial struggles broke. READ:Station 9TV rebrands ...Keep on reading: CNN Philippines ceases operations on Jan 31