Black News Channel Shuts Down Two Years After Launch

Black News Channel is shutting down after originally launching in 2020 and will file for bankruptcy, according to an email sent to staff on Friday.

The Los Angeles Times broke the news the day after an email was sent to employees that they would not be getting their payroll checks on Friday.

Majority stakeholder and Jacksonville Jaguars owner Shad Khan had invested about $50 million into BNC, but audience and revenues failed to meet the company’s hefty cost structure. He decided he couldn’t keep throwing more money at the operation, which has 230 employees, mostly people of color, the Times story said.

CEO and former CNN executive Princell Hair, who joined the operation last year, sent an email to staff mid-day Friday which noted that, “Unfortunately, due to challenging market conditions and global financial pressures, we have been unable to meet our financial goals, and the timeline afforded to us has run out. It’s with a broken heart that I am letting you all know that, effective immediately, BNC will cease live production and file for bankruptcy. We are saddened and disappointed by this reality and recognize the stress that this puts on you and your families.”

On its website, BNC.tv states “Black News Channel is the nation’s fastest growing news network and the only provider of 24/7 multiplatform programming dedicated to covering the unique perspectives, challenges and successes of Black and Brown communities.”

Black News Channel’s live programming ceased at 5:00 pm Friday, March 25, 2022.