(OnNewsToday) – Canada’s Rogers Communications Inc (RCIb.TO) said on Monday it agreed to end a joint venture in Vice Studio Canada and Viceland just three years after announcing it.
The C$100 million ($80.24 million) deal was struck in 2014 in a bid for Rogers to build on Vice’s edgy content targeted at younger viewers. (reut.rs/2rxQhrG)
Rogers Media has transferred its studio interest in the venture to Vice Canada, while all content from the TV channel Viceland would be only available online, the company said.
Rogers’ move comes amid stiff competition from video-streaming services such as Netflix (NFLX.O) and Amazon Prime who are spending heavily to make original shows to draw viewers.
Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Bernard Orr