- Rogers Communications ended a $100 million joint venture with Vice Media for its cable channel, Viceland Canada, on Monday, according to The Hollywood Reporter.
- Viceland Canada reportedly had substantial revenue loss and low ratings.
Canadian media giant Rogers Communications is set to pull Vice Media’s Canadian cable channel, Viceland Canada, off the air.
On Monday, Rogers terminated the $100 million joint venture it signed with the Montreal-founded media company (now based in New York) in 2014. The problem: low ratings and substantial revenue loss, according to The Hollywood Reporter.
According to THR, Viceland Canada suffered a $2.49 million pre-tax loss in 2016, the last fiscal year measured. The channel’s overall revenue fell 14.1 percent from the $6.36 million it posted in 2015.
Viceland Canada will go off the air with Rogers on March 31. A Vice spokesman told Business Insider that the company’s Toronto production studio will remain open moving forward, and that the company is in talks to keep Viceland Canada on air after March 31 (though he didn’t specify a particular partner to take the place of Rogers).
“In this crowded content universe and as audience habits change, we continue to evolve our strategy to deliver unique content to Canadians,” Rogers Communications said in a statement to THR on Monday.Rogers signed its $100 million pact with Viceland Canada in 2014 as a three-year deal for production and distribution.
Moving forward, Viceland’s content – including programs like the talk show “Desus & Mero” and the marijuana docu-series “Weediquette” – will reportedly be available to Canadians on Vice.com.
Vice Canada president Ryan Archibald said in a statement on Monday that the company will keep “continue to grow in Canada in 2018” despite the end of its deal with Rogers:
“We have a lot of opportunity ahead of us and will be announcing some new exciting partnerships soon. As we build VICE into the preeminent home for today’s most impactful storytellers and bring those stories to viewers across the world though digital, mobile, and our award-winning studio, keeping VICELAND alive as a showcase of the content and people that shape our culture is a priority for us. Rogers Media’s initial investment helped to establish our studio as a leading producer of some of the most engaging Canadian content out there and we thank them for their partnership.”
The cancellation of Viceland Canada comes in the wake of a New York Times report last month that reported a history of allegations of and settlements over sexual misconduct in the company.
Vice Media suspended its president, Andrew Creighton, and chief digital officer, Mike Germano, after the report. On Monday, Vice announced that it was investigating new claims of sexual misconduct made by a former Vice reporter, Billie JD Porter.
In November, The Wall Street Journal reported that Vice Media was expected to miss its 2017 revenue target of $800 million. The company was last valued at $5.7 billion after the private-equity firm TPG invested $450 million in Vice in June.
Vice Media has received big investments from Disney, Hearst, and A+E Networks.
Correction: A previous version of this story said that Viceland Canada’s Toronto studio would reportedly be closing as a result of the termination of its deal with Rogers. The studio is staying open, according to a Vice spokesman.