CNN has announced that it is launching a new channel in Switzerland in the second half of 2017. CNNMoney Switzerland will be the first nationwide English-language TV channel dedicated to business news for and about Switzerland. Its target audience is CEOs and other business leaders.
The new channel will be operated and co-financed by the Vaud-based company MediaGo. The main editorial office will be located in Zurich, with a second one planned in Geneva. As the Sonntagszeitung reported, it plans to employ around 30 journalists, most of who will come from Switzerland.
The new channel is the largest project launched by CNN since it was founded in 1980 – and also CNNMoney’s first standalone national channel in the world. Even in the US, CNNMoney has only been a website until now.
Additional CNNMoney channels in other countries are expected to follow. “The launch of CNNMoney Switzerland represents an important step in our international growth strategy,” said Rani Raad, president of CNN International.
Switzerland was the logical choice for the first CNNMoney channel for several reasons. “On the one hand, 3.5 million people in Switzerland speak English, either as a native language or as a second or third language. On the other hand, Switzerland is an ideal location due to its high concentration of multinational companies, international organisations, institutes of higher education and international sporting organisations,” Christophe Rasch, MediaGo CEO, is quoted as saying.
The new channel will bring international business news to the Swiss population, while at the same time highlight Switzerland as a centre of business.
“We will take advantage of the fact that the country is an important financial hub, the hotspot of major industries and an incubator for start-ups in the medtech, fintech and biotech sectors,” said Rasch.