Cable TV outlet Black News Channel has abruptly shut down after two years on the air, and just after hitting new viewership highs during this week’s confirmation hearings for Supreme Court nominee Ketanji Brown Jackson.

In a memo to employees, CEO Princell Hair cited “challenging market conditions and global financial pressures” for the decision to wind down operations, according to multiple reports. The National Association of Black Journalists, a prominent trade group, confirmed the shutdown in a blog post. It pledged to support the roughly 200 employees affected by the move.

Bnc was co-founded by former Oklahoma Congressman J.C. Watts and longtime TV executive Bob Brillante. After years of planning, the network made its debut in 2020 after billionaire Jacksonville Jaguars owner Shahid “Shad” Khan signed on as a partner.

The Tallahassee, Fl-based network originally launched in about 33 million households via cable and satellite and eventually got to 50 million households. But...