LLOYDMINSTER — Stingray (TSX: RAY.A; RAY.B) announced May 12 it is shutting down CITL-TV and CKSA-TV citing deteriorating financial conditions and declining viewership.
The company said revenue has dropped by more than half over the past six years despite cost-saving measures, making local TV production in Lloydminster unsustainable.
“The difficult decision to cease our television operations in Lloydminster was made after prolonged consideration and thorough exploration of alternative possibilities, including ownership transfer to other broadcasters,” said Stingray Radio president Steve Jones, in a news release dated May 13.
Stingray said contributions from programs such as the Independent Local News Fund and Distant Signal support have diminished, with minimal relief under the Online Streaming Act.
The company will maintain a presence in Lloydminster through its New Country 95.9 radio station, as well as four regional stations.
Â鶹ÊÓƵ reached out for comment but had not received a response by publication time.
