Following the sale of GMG Regional Media to Trinity Mirror for £44.8 million, GMG reviewed options for Channel M, the troubled TV station that operated out of the Manchester Evening News newsroom.
Today the company announced that despite interest from a number of parties, "a viable offer for the station has not emerged".
"Following the review of Channel M, we have reached the conclusion that the station is no longer sustainable in its current form," it said in a release.
"This is due to a number of factors, including the absence of a committed buyer, the loss of access to news from MEN Media, and the costs associated with the requirement to leave the Urbis building.
"As a result, from this Friday the station will no longer broadcast evening magazine show Channel M Today, and will cease production of original news and features video. Channel M will remain on air, focusing in the short-term on a mixture of archive material, traffic and networked news."
The changes will result in the total number of staff being reduced from 33 to four.
GMG will continue to own Channel M and the Freeview multiplex business in Manchester, it was stated.
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