New York (CNN) HBO announced on Monday that it had cancelled the award-winning "Vice News Tonight," ending its seven-year partnership with the millennial-focused Vice Media, which is implementing sweeping changes across its organization.

"We've decided not to renew Vice News Tonight after this season," an HBO spokesperson said in a statement. "We've had a terrific seven years partnering with VICE Media, first with the weekly news magazine series and most recently with the nightly news show."

Josh Tyrangiel

The 30-minute news program debuted in 2016 to significant fanfare, airing nightly on HBO with the aim of providing viewers context for the biggest stories of the day. Led by Josh Tyrangiel, the executive vice president of news at Vice Media, "Vice News Tonight" has won several awards, including four Emmys for its coverage of the Unite the Right rally in Charlottesville and one Emmy for its coverage on ISIS militants.

News of its cancellation comes at a time of significant upheaval for Vice Media. The Walt Disney Company disclosed in its second quarter earnings report that it had written down its $353 million stake in Vice Media. Vice also canceled "Vice Live" in April just weeks after its debut after failing to attract an audience. In February, the company laid off 10% of its staff, or about 250 employees. And over the past two years, the company has restructured its leadership, including the appointment of former A&E president Nancy Dubuc as chief executive, as it has worked to improve its culture following sexual misconduct allegations.

Tyrangiel said in an email to employees that he will departing from the company at the end of the month. He said he "loved every minute" of working at Vice Media, and that he "could use a break before contemplating" his next move.

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