Karachi-based Talon News has announced that it is shutting down due to insurmountable challenges and an untenable business model.
“This decision comes after much deliberation, understanding the significant impact it has on our dedicated employees, loyal viewers, and esteemed stakeholders,” the news agency said in a tweet on X.
It is with a heavy heart and considerable distress that we announce the immediate shutdown of Talon News. This decision comes after much deliberation, understanding the significant impact it has on our dedicated employees, loyal viewers, and esteemed stakeholders.
— Talon News HD (@TalonNewsHD) March 13, 2024
Talon News faced numerous obstacles, including an unreliable rating system, a subjective media landscape, and government advertising requirements that limited editorial freedom.
It said commercial advertising rates failed to support sustainability for new channels, despite achieving top ratings. Demands from media houses and inflated salary structures added to the financial strain.
The imbalance between high operational expenses and inadequate income, coupled with stiff competition from established channels, rendered Talon News’ business model unsustainable.
The agency said its Board of Directors emphasized their commitment to minimizing losses and upholding integrity by exiting the unviable business. They assured employees and vendors of full compensation as per contractual agreements.
Expressing gratitude for the dedication and hard work of all involved, Talon News thanked its employees, viewers, and stakeholders for their support throughout its tenure.
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