Nine CEO Hugh Marks and Australian News Channel CEO Paul Whittaker said the partners had made the closure decision as 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.
In a joint statement, Marks and Whittaker thanked Your Money staff for their commitment to an innovative and ambitious venture: “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.”
Your Money CEO Kylie Merritt said it had been a privilege to lead Your Money through such a bold project: “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.
Nine and Australian News Channel both reinforced the importance of business journalism and their commitment to its future: “We both have an important role in providing expert news, commentary and analysis of business and will now consider how we optimise our talent and platforms to continue to deliver that to Australia.”
Locked down Victorians who don’t currently have an Optus Sport subscription will have complimentary access to Optus Sport from this weekend to enjoy the UEFA Champions League tournament plus access to premium health and fitness content through the Optus Sport app. UEFA Champions League – the world’s premier continental football tournament – kicks off at […]
Torrens University Australia has launched ‘Career Crush’ via VCCP Sydney and Lash, to help match students with a career they’ll love. Career Crush is an online quiz that determines prospective students’ personal strengths, passions and aspirations to match them with the careers and courses they’re most compatible with. One of the toughest decisions young people […]
Pedestrian Group has partnered with Nine subsidiary Mi9 New Zealand to offer NZ brands the opportunity to partner with the likes of Business Insider Australia, Pedestrian.tv and Gizmodo Australia. Next month, Mi9 New Zealand will be representing Pedestrian Group in the NZ market, offering clients the opportunity to work with leading youth publications including Lifehacker […]
ViacomCBS Networks International (VCNI), a division of ViacomCBS, is launching a premium streaming service internationally, appealing to audiences of all ages. The new SVOD service will start its international roll-out early in 2021, offering exclusive premieres of all new SHOWTIME series, including Halo and American Rust. CBS All Access originals will also premiere exclusively on the new service, such […]
As part of a larger project to refine their brand with partner branding agency Re, Optus have engaged experimental creative studio FutureDeluxe to explore how the iconic ‘Yes’ brand mark behaves in a sophisticated 3D environment. FutureDeluxe have produced a series of 8x idents and a number of static key visuals which will be used […]