Nine and Australian News Channel (ANC) have announced the closure of their joint venture Your Money.
It comes just weeks after they closed the digital platform for the finance, real estate and lifestyle venture which launched last year.
Nine CEO hugh Marks and ANC CEO Paul Whittaker say the revenue model had “proven more difficult than envisioned”.
"We have enjoyed a strong partnership with this joint venture but unfortunately we are unable to maintain its continuing operation,” Marks and Whittaker said in a statement.
“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.”
The media organisations say they will redeploy staff were possible.
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