Several businesses have been hit by the global recession; the demise of Woolworths and other high street stores has been well-publicised. Now a gay youth podcast service has been hit following issues with the company that hosts their podcasts.

The knock-on effects for those who use those businesses is also growing.

FYI Radio, the new queer alternative podcast station, is one of the smaller organisations suffering from the credit crisis.

FYI broadcasts its podcasts, produced for and by the young gay community, online through Podango, an online host service.

Last week, Podango announced that it must shut down temporarily due to financial difficulties.

This means that all of FYI’s podcasts, including previous seasons and its New Generation series, will go offline if an alternative cannot be found.

Podango issued this statement to its users in an email:

“It has been determined that we will need to hibernate Podango.

“Operations as of the close of business on the 31st of December.

“Just last week we found out that a planned investment was delayed putting us in a financial situation where we will need to restructure through various strategic opportunities that are evolving.

“We expect at some point within the next month or so to relaunch under a different structure and possibly with a new owner.”

Podango urged its users to relocate their data to another host to avoid losing it.

FYI Radio director Ryan Haynes told PinkNews.co.uk:

“We were devastated to learn on returning from Christmas that Podango is due to close due to lack of investment following the knock on effect from the world wide credit crunch.

“This is going to have a major impact on FYI Radio, as Podango is our key source of distributing content to our listeners.

“We are franticly researching alternate ways to broadcast programmes to our loyal listeners, and realise that even a small organisation like ours is not safe during the economic slowdown.”

Mr Haynes went on to assure listeners that FYI will return in the new year as scheduled.

For more information visit FYIRadio.net