A Sam’s club television operator in Calgary is shutting down after three decades, but it’s not the end of the story.
Sam’s owner says it is about time the TV company shuts down because the industry has not recovered from the 2008-09 financial crisis, but that it is not the time to shut it down.
Sams Club Television announced Monday that it will shut down at the end, and that will include its video content, including live events, podcasts and a daily news website.
It said the business will continue to offer programming through other channels, including the Internet.
Sam was a pioneer in the industry in Canada, and the Calgary-based company has operated for more than 30 years.
“We know that the current landscape is challenging,” Sam’s president and CEO, Bruce Hsu, said in a statement.
Hsu said Sams would also continue to provide services to Canadian broadcasters, including Canadian TV stations. “
But it is also about delivering our vision for the future and what we believe can bring people together.”
Hsu said Sams would also continue to provide services to Canadian broadcasters, including Canadian TV stations.
But the move comes after years of struggling to recoup losses from the crisis, and as the company struggled to stay afloat.
The company had $7.4 billion in revenue at the time of the crisis and had $6.4 million in debt.
The Canadian Broadcasting Corporation said the company had a “substantial” debt load.
But in January, the CBC said that its parent, Bell Media, and its satellite operator, Rogers Communications, had a combined debt of $6 billion.
The CBC said the deal would help ensure the company’s future.
Hsu had said in 2013 that the company would be a “major player” in the TV industry in the United States.
“As a company that has been on a path to profitability, it’s time to say goodbye,” Hsu told a Canadian Broadcasting Company audience.
He said the closing was not an “exit strategy.”
“Sams will be part of the Canadian media landscape for a long time,” he said.
Sam said it is closing “as a complete business unit.”
“We’re moving to the end,” Hsie said.
“This is a business that has become too big for our ability to do the job of delivering the entertainment and the content that Canadians want to watch.”
But the shutdown comes at a difficult time for the company.
It has said that the recession, which took a $5.6 billion bite out of the company in 2008, has cost it millions of dollars in lost revenue and job losses.
The broadcaster has also struggled to make its content more affordable.
The news website that will replace the website SamsClubTV.com, SamsDailyNews.com.
Sam will also close the news site SamsNews.ca.
The Calgary-area Sam’s Clubs has been a popular destination for young people since it opened in 1967.
Its main locations are in Calgary and Edmonton, and about 200 Sams clubs are currently operating.
The new site will provide information on Sams club products and events, such as the annual Sams Barbecue and the annual Halloween party.
Sam and the CBC declined to comment on the deal.
The Sams news website will be maintained by Calgary- based News Corp Canada.