Why is #RIPCartoonNetwork trending? Is Cartoon Network really closing down?

Hyderabad: Cartoon Network, owned by Warner Bros. Discovery, has been a cherished part of the childhoods of many 90s and early 2000s kids with beloved shows such as Scooby-Doo, Tom and Jerry, and Ben 10.

The recent trend on X, "#RIPCartoonNetwork," has left fans disappointed and sparked rumors about the channel possibly shutting down.

The trend began after Animation Workers Ignited, a community-run account that updates on the animation industry, posted a video questioning if Cartoon Network was "dead." The video underscored the challenges confronting the animation industry amidst widespread layoffs.

https://x.com/AWorkersIgnited/status/1810440310838968397

The video encouraged people to share their favorite Cartoon Network shows using #RIPCartoonNetwork and highlighted the impact of COVID-19 on the animation industry.

Despite animation’s ability to continue remotely during the pandemic, many studios have canceled projects, outsourced jobs, and laid off artists.

The video attributed these issues to corporate greed, suggesting that executives are cutting staff to increase their own financial gains.

The hashtag #RIPCartoonNetwork sparked widespread speculation that the channel was closing, generating a buzz on social media.

Users expressed sadness and nostalgia, with one commenting, "This channel changed the world and essentially raised an entire generation; it shouldn’t just cease to exist. These were my favorite shows from all their classics." Another lamented it as the end of an era, saying, "It’s the end of an era, an iconic childhood memory on Cartoon Network."

It truly marks the end of an era for the iconic childhood memories associated with Cartoon Network.?