By:
The Canadian PressSun News Network shuts down after buyer fails to materialize
The Sun News Network went off the air Friday
morning after negotiations to sell the troubled television channel were
unsuccessful.
No on-air announcement was made as the screen went dark and was replaced moments later with the Sun TV logo.
The closure of the conservative-angled news
channel follows months of uncertainty surrounding its fate, after
Postmedia Network Canada Corp. announced plans to purchase the Sun Media
newspapers and websites from Quebecor for $316 million.
The Sun News channel was not included in the
deal, which sparked outsiders to suggest the network could fold after
years of struggling in the ratings.
In a news release to coincide with the
early-morning shutdown, Sun Media Corp. said it spent months actively
seeking a potential buyer.
But it said “no party capable of taking over
the channel was found” and that in view of the financial losses “there
was no alternative to closing Sun News.”
“This is an unfortunate outcome; shutting down
Sun News was certainly not our goal,” said Julie Tremblay, president
and CEO of Media Group and Sun Media Corporation.
“Over the past four years, we tried everything
we could to achieve sufficient market penetration to generate the
profits needed to operate a national news channel. Sadly, the numerous
obstacles to carriage that we encountered spelled the end of this
venture.”
Adding further questions about the future of
the network was a short-term agreement with Postmedia which allowed Sun
News to licence the rights for its existing logo for only a year before
Postmedia required the broadcaster to distance itself from the brand.
“The closure is regrettable for the Canadian
broadcasting system, which is losing a distinctively Canadian voice in
the national news space,” said Tremblay.
“We thank all employees for their daily
efforts and the talent they have contributed to the channel. We wish
them all the best in their future endeavours.”...Read more...
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