Al Jazeera America to shut down in April by Tom Kludt and Brian Stelter @CNNMoneyJanuary 13, 2016: 5:15 PM ET Related: Al Jazeera sued by Ryan Howard and Ryan Zimmerman on doping story Al Jazeera said it would not give up on the American market entirely. The memo indicated that the company plans to "expand its existing international digital services" in the United States, with more details to be released in the coming months. But the television network venture is over. Al Jazeera America invested in serious, in-depth reporting and racked up many journalism awards for doing so. But its ratings have remained anemic since launch. In prime time the channel only averages between 20,000 and 40,000 viewers on a typical day. CNN, Fox News and other cable news channels have well over ten times as many viewers. The channel's end appears to have been prompted by the plunging price of oil, which dropped below $30 a barrel on Tuesday for the first time in 12 years. That's significant because Al Jazeera America is owned by Al Jazeera Media Group, which in turn is owned by the government of Qatar. A source at the company's headquarters in Doha said that Al Jazeera was planning on making cuts all over -- perhaps up to one thousand jobs -- due to the falling oil prices. "Al Jazeera Media Network had to cut, and instead of making it across the board or anywhere else, they decided to chop Al Jazeera America," the source said.