Black News Channel Reportedly Shuts Down Two Years After Launching

According to reports, the Black News Channel will be shutting down two years after it first launched. The channel is filing for bankruptcy and will continue to air repeats of programming for the duration of the month.

“During the past few months, we have endured very painful workforce reductions at all levels of the network as we worked to achieve our financial goal of a break-even business,” BNC chief executive Princell Hair said in a memo obtained by the Los Angeles TImes.

“This has forced all of you to do more with less, and your contributions have been remarkable. Unfortunately, due to challenging market conditions and global financial pressures, we have been unable to meet our financial goals, and the timeline afforded to us has run out,” Hair’s memo continued.

It is being reported that employees remain unsure about if and when they will be paid. As Anita Bennett tweeted, “I am sad to report Black News Channel (BNC) is shutting down. Remaining employees were just told today is the last day of live programming,” adding, BNC’s regularly scheduled direct deposit payments did not go out today and employees have no clue when they’ll be paid. I’m also hearing from vendors who say they’re owed “a lot” of money.”

Source: Twitter.com

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