Cox Enterprises said it is shutting down its Videa advanced advertising unit.
The unit will close March 31.
“Over the years, the company made significant progress in the programmatic television space, but it is no longer sustainable to continue operations. We thank our extraordinary employees for their hard work and will continue to provide resources to help them through this transition,” the company said in a statement.
Videa was launched in 2014 and aimed to work with station groups, agencies and rep firms across the spot TV industry to build an automated television solution that optimizes advertising campaigns and enables workflow efficiencies and data-enhanced audience targeting.
It launched a supply-side platform in 2015.
Last year Cox Enterprises agreed to sell Cox Media Group and its television stations to Apollo Global Management.