Dietrich Mateschitz suddenly shuts down his TV station.

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Dietrich Mateschitz suddenly shuts down his TV station. But why?

Dietrich Mateschitz is the founder of Red Bull and the team owner of Formula 1. He is suddenly reported to shut down his private television channel ‘ServusTV’ by the end of June.

What might be the reason behind such a move?

Mateschitz referred to the financial burden of running the station as it being unbearable after spending the minimum of €100million per year since it was founded in 2009.

Another reason he gave according to Autosport is “A claim by Mateschitz of the recent circulation of an email "outside ServusTV" asking employees to vote internally on the formation of a representation of employees supported by unions”, the latter was not liked by Mateschitz himself.

Here is a tweet by mini F1 news

It has not been long that Mateschitz gave assurance to 264 employees of the company’s future within ‘Red Bull Media House in Salzburg.’

The story does not end here, in February ServusTV signed a three-year contract with Dorna to televise MotoGP live in Austria. Also, the station has extended its contract with the Austrian Ice Hockey League (EBEL) for a further three years through to 2018-19, with an option to continue until 2021.

What is going to happen with these deals? On the top of that, Mateschitz said "All explanations are given. There is no more to add."

Here is a video of Mateschitz one year back: out of the box