Black News Channel, a cable news network that went on the air two years ago to provide an alternative look at news from Black Americans’ perspective, is shutting down, the outlet’s chief executive told employees on Friday
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The network, which was co-founded by former Oklahoma congressman J.C. Watts, is largely backed by automotive-parts billionaire and Jacksonville Jaguars owner Shad Khan. Mr. Khan had explored a sale of some or all of the network in recent months, people familiar with the matter said. Mr. Khan, who has invested roughly $50 million in BNC, won’t invest any further, according to some of the people. A spokesman for Mr. Khan had no comment.
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