Non-Black Billionaire Investor Pulls The Plug On Cable TV’s Black News Channel!
YourBlackWorld.net, By Victor Trammell, Posted April 19th 2022
According to reports, the Black News Channel (BNC) is shutting down.
Pakistan-born Shahid Khan, the owner of the Jacksonville Jaguars NFL franchise, contributed $50 million dollars to catapult the news media channel’s debut in 2019.
However, Khan is now unwilling to pump any additional money into this failed project, as per reports. A total of 230 individuals have been subjected to lay-offs. None of them received a BNC severance payout.
On Twitter, Marc Lamont Hill posted the preceding statement:
“The real exclusive is that [Shahid Khan is] refusing to give people their paychecks today. Hundreds of employees, many of whom already took significant pay cuts, are now being denied the money they’ve already worked for. Khan, a BILLIONAIRE, simply says he doesn’t want to pay it.”
Princell Hair, the CEO of the BNC sent a message to his workforce that read:
“During the past few months, we have endured very painful workforce reductions at all levels of the network as we worked to achieve our financial goal of a break-even business.”
Hair’s statement went on to say:
“This has forced all of you to do more with less, and your contributions have been remarkable. 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.”
According to Nielsen’s statistics, the average viewership for BNC was fewer than 10,000 viewers — despite sharp viewership increases, which occurred not long ago.
