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Carlton Food Network to close

LONDON - Carlton Communications plans to disband its niche food channel Carlton Food Network by the end of the year.

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The news comes following the closure of the Taste Network, a joint venture between Carlton and Sainsbury's, in August.

The broadcaster has blamed falling advertising revenues for the decision. "Carlton Food Network, in common with many specialist niche channels, has experienced weaker-than-expected advertising and e-commerce revenues," Matthew Kearney, director of business development at Carlton, said.

Carlton's share price -- already buoyed by rumours it is to seek a way out of its loss-making ITV Digital investment -- rose in early morning trading by 5.9% to 193.75p.

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