Add Fios1 News to the long list of local news organizations to close its doors.
Verizon is shuttering its local news channel, Fios1 News, costing 150 employees their jobs.
According to reports, Verizon Fiosis ending its 10-year contract with Rye Brook, New York’s Regional News Network.In an Aug. 17 letter to employees, Richard French III, RNN’s president of news, said Verizon and news network tried for a year but failed to hash out a new contract.
News programming will cease at 12:01 a.m. on Nov. 16.
Fios1, which stands for Fiber Optic Service, is one of two hyperlocal cable-news channels serving Westchester and the New York City metro area.
Verizon Communications Inc. first introduced Fios1 10 years ago. Like the News12 channels operated by Cablevision’s Optimum, the channel offered customers local news programming focused on the local communities, high school sports, traffic, local business stories and weather.
Fios was part of an attempt to attract customers away from Cablevision.
Verizon has been attempting to pay off a massive debt load of more than $114 billion, according to the New York Business Journal. Last week, it sold off Tumblr — the floundering social media network.