TVNZ is scrapping TVNZ U, just over two years after first launching the youth-centric channel.
An announcement made today says U will be closed on August 31, after which it will be replaced by time shifted programming from TV2 (TV2+1).
Despite efforts to bring in the viewers and advertisers to pay for its operations, TVNZ chief executive Kevin Kenrick says the broadcaster has been unable to make it financially viable.
“As it is, the channel is a very lean operation and no significant savings can be made to address the shortfall,” he says.
TVNZ U staff are being consulted about their jobs.
In March, U added new hosts and a late night show to its roster in an attempt to boost ratings and engagement.
StopPress has contacted TVNZ for further information.