Your Money channel will close next week, just 7 months after its launch, due to revenue problems.

The channel launched as a joint venture between Nine and SKY News on both Free to Air (Nine digital channel 95) & Pay TV (Foxtel Channel 601), replacing Extra and SKY News Business, respectively.

Nine CEO Hugh Marks and Australian News Channel CEO Paul Whittaker said the revenue model had proved more difficult than envisioned and not delivered to expectations. This was due to a number of factors that could not be rectified in the short term.

“We have enjoyed a strong partnership with this joint venture but unfortunately we are unable to maintain its continuing operation. Market and technical circumstances have proved too challenging. Our thanks to the Your Money team – the quality of the people who brought this channel to life is extraordinary and they have given it their utmost commitment and professionalism,” they said in a joint statement.

Your Money CEO Kylie Merritt said, “I am proud of what we achieved and I thank every member of the team for the work they did, the stories they told and their incredible devotion to the project.”

Where possible the joint venture partners will seek to redeploy staff within their respective businesses.

Your Money will cease broadcasting on Friday, May 17, 2019.

It isn’t clear if separate channels will replace it on Nine and via SKY News.

Related