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Aleksandra Sagan

Shomi to shut down Nov. 30

TORONTO—Shomi announced yesterday it was shutting down at the end of November, two years after the video-on-demand service launched amid hopes of thriving in a hyper-competitive market.

“The business climate and online video marketplace have changed markedly in the last few years,” David Asch, senior vice-president and general manager for Shomi, said in a brief statement.