Why did Panda TV dissolve?

Why did Panda TV dissolve &; Nbsp; 2065438+At noon on March 8th, 2009, Panda TV, which has been operating beside Wang Sicong for more than three years, announced that it would cut off its server.

This seems to be a result that no one will be surprised by. So far, Panda Radio has experienced a financial crisis. Before the closure, a notice of dissolution was issued within the company and spread to the whole network. In fact, Panda Radio went bankrupt because there was no external capital injection for 22 months. Zhang Juyuan, the founder of Panda Live, said in a farewell letter late at night: The investment sought within two years has not been determined, and the funding gap has not been finally solved, so we have to make a helpless and rational choice under the general trend. Pandas lost to their own Buddhist culture.

Why did Panda TV dissolve?