Your Money tv show to end, page-3

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Nine and Sky News Australia are preparing to shut down their business, personal finance and wealth joint venture Your Money.Nine and Australian News Channel (ANC), the parent company of Sky News, confirmed the program would cease broadcasting on May 17, after this was revealed by The Australian Financial Review on Monday afternoon.The 50-50 joint-venture, which was signed in June last year, has been running a 24/7 news channel on free-to-air and Foxtel, but after less than a year, Nine and Sky News are looking to part ways. Nine owns the Financial Review.It had hoped to capitalise on the rise of self-managed super funds and growing interest in personal finance and business beyond specialist corporate coverage. However, Your Money failed to attract the level of audience and advertising needed for its partners to justify continuing on with the venture."Together, we embarked on a project to challenge conventional television wisdoms. You all embraced it and demonstrated the utmost professionalism and commitment to its success," Nine chief executive Hugh Marks and ANC chief executive Paul Whittaker said in an internal memo to Your Money staff."Like all start-ups, however, it was not without risk. Unfortunately, our commitment was not matched by that of the advertising market and ultimately, the trading and technical circumstances have proved too challenging and more difficult than envisioned. We have to accept that this new model has not been effective."