ABS-CBN Corp. said it will shut down the operation of O Shopping Channel towards the end of the year.
In a statement, ABS-CBN said CJ ENM Co. Ltd., its joint venture partner for ACJ O Shopping Corp. which operates the O Shopping Channel, has decided to move its business out of Southeast Asia completely.
The past two years have been challenging for ACJ O as it experienced financial losses, while the COVID-19 outbreak has and will continue to take a toll on the business this year, the company said.
As a result, ACJ O has made the difficult decision to let go of its employees starting August 7, 2020, it added.
“The company is thankful for their valuable contributions through the years and ensures that they will receive separation packages as the law requires,” ABS-CBN said.
As it winds down its operations, ACJ O will make further announcements regarding the selling of its goods on-air and online, and assured that it will continue to serve its customers as best it can despite the reduction in manpower in the next few months.
Last November, ABS-CBN added O Shopping Channel in the premium programs at the ABS-CBN TVplus.
However, the National Telecommunications Commission (NTC) ordered it to stop the operation of its digital terrestrial television broadcast on channel 43 last week which affected 4.4 million households.
ABS-CBN went off air last May following the cease and desist order of the NTC
