Thursday, 14 January 2016

Al Jazeera To Shut Down Al Jazeera America

Al Jazeera America announced on Wednesday that it would shut down its offices by April 30.

The company’s Chief Executive, Al Anstey, announced the closure in a memo to staff.

“[The] decision [to shut down the company] by Al Jazeera America’s board is driven by the fact that our business model is simply not sustainable in light of the economic challenges in the U.S. media marketplace,” the memo stated.

The channel was launched in August 2013 after Al Jazeera purchased former American Vice-President Al Gore’s Current TV for $500 million.

One of the rumoured reasons for the shutdown is the drop in global oil prices. The shutdown of the American channel is expected to cost up to 700 jobs.

Credit: Saharareporters.com


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