Live Nation shuts down advertising unit

A Live Nation TV unit that produced content for advertisers has shuttered, The Post has learned.

The unit, a joint venture with Vice Media, the company co-founded and led by Canadian journalist Shane Smith, had 12 employees of Vice, all of whom lost their jobs, sources said.

The 2-year-old venture had issues making enough money, sources added.

“They’re rethinking what it looks like, the content appears less video heavy,” one advertiser said.

Live Nation also recently acquired a branding agency, GreenLight Media, to expand its work with brands.

The move does not effect LNTV, the larger joint venture with Vice that focuses on news around live concerts.

Separately, Live Nation is continuing its own content efforts, including its “On Stage” series for web TV service Hulu.