The service was launched seven years ago and is separate from Reuters Video News division, which supplies news content to 350 broadcasters around the world.
Andrew Duffield, a Reuters spokesman, said: "The service is complex to install on customer sites, costly to distribute by satellite and the audiences are very modest, making it difficult to justify the continued level of investment."
However, he refused to comment on how much Reuters had invested in the service.
Since chief executive Tom Glocer took over the running of the company from Peter Job earlier this year, the company has already sacked 1,000 staff as part of Glocer's rigorous restructuring of the group.
Reuters shares had fallen 3.43% to 717.5p in London this afternoon.
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