Rogers Communications ended a $100 million joint venture with Vice Media for its cable channel, Viceland Canada, on Monday, according to The Hollywood Reporter.
Viceland Canada reportedly had substantial revenue loss and low ratings.
Canadian media giant Rogers Communications is set to pull Vice Media’s Canadian cable channel, Viceland Canada, off the air.
On Monday, Rogers terminated the $100 million joint venture it signed with the Montreal-founded media company (now based in New York) in 2014. The problem: low ratings and substantial revenue loss, according to The Hollywood Reporter.
According to THR, Viceland Canada suffered a $2.49 million pre-tax loss in 2016, the last fiscal year measured. The channel’s overall revenue fell 14.1 percent from the $6.36 million it posted in 2015.
Viceland Canada will go off the air on March 31, and the station’s Toronto production studio will close as a result.
“In this crowded content universe and as audience habits change, we continue to evolve our strategy to deliver unique content to Canadians,” Rogers Communications said in a statement to THR on Monday. Rogers signed its $100 million pact with Viceland Canada in 2014 as a three-year deal for production and distribution.
Moving forward, Viceland’s content — including programs like …read more
Source:: Businessinsider – Technology
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