TVNZ says it will close youth channel TVNZ U on August 31 and replace it with a time-shifted version of TV2.
Social media smarts have not been enough to make up for a threadbare programming budget. “Despite our best efforts, we’ve not been able to make it work financially," CEO Kevin Kenrick says.
The channel has been making a loss since its March 2011 launch, the state broadcaster says. “As it is, the channel is a very lean operation and no significant savings can be made to address the shortfall,” Mr Kenrick says.