Commercial network TV3 shuts down news portals and lays off 13
TV3 will close its online news platform and TV3 Play at the end of the year, reports Delfi. The company plans to focus on the development of its Go3 streaming platform moving forward.
In a letter to employees, TV3 CEO Signe Suur stated that the online business segment is too small to justify continued investments at the expense of the rest of the business, Delfi reported.
According to Suur, the online segment accounted for less than 5 percent of the company's revenue.
The company will, however, continue its digitalization efforts, focusing on the development of the Go3 platform, which will receive further investments.
As a result of closing the portals, 13 employees will be laid off, while seven digital department staff members will be offered new positions within the company.
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Editor: Barbara Oja, Marcus Turovski
