Filed at 9:20 p.m. ET

SAN JOSE, Calif. (AP) -- Internet giant Yahoo! Inc. is scrapping two free broadcasting services: FinanceVision, which provided streaming video clips with business and stock news, and a radio channel that came with its $5 billion acquisition of Broadcast.com, the company disclosed Tuesday.

Nearly 30 employees will lose their jobs because of the two shutdowns, which are to be carried out over the next week, said Henry Sohn, Yahoo's vice president and general manager for network services.

Launched during the height of the late 1990s Internet and stock market mania, FinanceVision operated like a mini-newscast, with anchors who gave business news updates and commentators who offered investment wisdom.

But Sunnyvale-based Yahoo now has lost money for six quarters in a row, and FinanceVision didn't mesh with the company's strategy of generating more subscription-based revenue and reducing its reliance on advertising.

Sohn cited similar reasons for Yahoo's decision to end its radio channel, which broadcast hundreds of real-world radio stations over the Internet. The technology came on board when Yahoo bought Dallas-based Broadcast.com in 1999 in a stock deal then worth $5 billion.

Broadcast.com's technology still lives on in several aspects of Yahoo's site, Sohn said, including its streaming-media service geared to corporations.

Yahoo isn't abandoning free streaming content altogether, however. Its finance pages will still include video clips from outside agencies, and its music channel will still offer songs and videos. That content was made possible by a much less expensive acquisition -- Yahoo's $12 million purchase of Launch.com last year.

Shares of Yahoo lost $1.36, or 9 percent, and closed at $13.72 on the Nasdaq Stock Market on Tuesday.

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