They were harpooned by the CRTC, no doubt had they received megabucks of Canadian $$ they would be doing okay.
You might be interested in Liberal Kinsella's take on it (he worked for them too)
http://warrenkinsella.com/2015/02/dear-sun-news-network-folks/#sthash.D87eJ0UV
I was on Twitter, past midnight, reading some of the things people were saying about the network’s demise. There was a lot of gloating and awful stuff being said.
I slept for four hours, then got up to watch the network disappear. They showed a promo for Pat Bolland’s show, and then that was it. The screen in my bedroom went black at exactly 5 a.m. I stared at it for a while, and tried to formulate what I wanted to say.
It’s not you who I want to say it to, former Sun News Network folks. It’s to those people on Twitter, last night and this morning, the ones who were gleefully celebrating the end of Sun News.
They’re celebrating, I guess, because they disagreed with the opinions that were found on Sun News. They didn’t like conservative opinions being broadcast, so they think it’s funny that 200 people have lost their jobs. I find that completely insane, for two reasons.