Teen TV channel failed to attract a buyer
LONDON — Rapture, the youth-oriented niche TV channel owned by United Business Media, is being shut down.
The move had been expected and follows a seven-month period in which United tried to find a buyer for the service, which posted a loss of £3.6 million ($5.3 million) last year.
Rapture was set up in 1997, joined satcaster BSkyB’s Sky Digital platform last year, and employs about 40 staff.
Its closure, likely within a week or two, follows that of financial service The Money Channel and Taste, the joint venture between Carlton Communications and supermarket chain Sainsbury’s.
More U.K. niche channels are likely to fall by the wayside as funding for the weakest performers dries up.