A Live Nation television unit that created content for advertisers has been shut down, The New York Post reports.

The Post reports: “The unit, a joint venture with Vice Media, the company co-founded and led by Canadian journalist Shane Smith, had 12 employees of Vice, all of whom lost their jobs, sources said.”

Formed two years ago, the venture was having trouble making money, the story reports.

The Post quotes one advertiser saying: “They’re rethinking what it looks like; the content appears less video heavy.”

The move does not affect LNTV, Live Nation’s larger joint venture with Vice, which concentrates on news around live concerts.