HBO has canceled 'Vice News Tonight,' ending its 7-year relationship with Vice Media

HBO has canceled 'Vice News Tonight,' ending its 7-year relationship with Vice Media

  • HBO has canceled “Vice News Tonight,” ending its seven-year relationship with the media outlet.
  • Vice Media is shopping a daily news program to other distributors. It plans to announced a deal in the coming weeks.
  • Visit Business Insider’s homepage for more stories.

HBO appears to be getting out of the Vice business.

The media company canceled its daily news program from Vice Media, called “Vice News Tonight,” according to a press release from Vice and an internal memo by Nancy Dubuc, CEO of Vice Media.

The cancellation ends a seven-year relationship between HBO and Vice Media. The series will close in early September, when Vice’s current deal with HBO concludes. HBOpreviously chose not to renew its weekly news show, “Vice,” after six seasons. The company has worked with Vice on news and documentary specials in the past as well.

Josh Tyrangiel, who lead “Vice News Tonight,” is stepping down at the end of June, and will consult on the series until it finishes its run. Former New York Post publisher Jesse Angelo is joining the company in a new role overseeing news, digital, and TV.

Vice hasn’t given up on TV, however. The company is shopping another daily news program. It is also in talks with Hulu for a news show,according to The Hollywood Reporter.

“A daily Vice News show will continue and I’ll be able to share with you all the details in the coming weeks,” Dubuc wrote. “As one of the most trusted places for news for people under the age of 35, the world needs Vice News more than ever and we’re dedicated to ensuring more people around the world have access.”

Dubuc noted in her memo that the decision to cancel “Vice News Tonight” comes alongside leadership and content strategy shakeups at HBO. HBO’s longtime CEO Richard Plepler exited the company earlier this year, amid a restructuring of WarnerMedia,under its new parent company, AT&T.

Representatives for HBO did not immediately return Business Insider’s request for comment.

HBO’s pullback from Vice also comes shortly after Disneydisclosed a write off of the remainder of its investment in Vice, a further $353 million, in a March filing.

Read more:Disney writes down $353 million of its stake in Vice, chopping its valuation of the media startup for the 2nd time

In May, Vice also raised $250 million in debt in an effort to make the digital-media outfit profitable,The Wall Street Journal first reported.

Source: Read Full Article