Al Jazeera America chief executive Al Anstey wrote in an email to staff that "our business model is simply not sustainable". The company declined to comment on how many employees would lose their jobs.
An undercover reporter with Al Jazeera secretly recorded pharmacist Charlie Sly confessing he sent human growth hormone (HGH) and other drugs to Manning's wife, Ashley Manning.
The network's management said that Ehab Al Shihabi, who has run Al-Jazeera America since its 2013 launch, will be replaced immediately by Al Anstey. "We have increasingly set ourselves apart from all the rest", he added. "They misread the toxicity of the Al Jazeera name and that affected cable carriage".
The channel, an offshoot of the Qatar-based Al Jazeera cable network, had trouble persuading cable and satellite companies to carry it, and viewers to watch.
Operations will cease by April 30th, but Mr Anstey said, "we will continue to show America why AJAM has won respect and the fierce loyalty of so many of our viewers". The New York City office of Al Jazeera America will be shut down on 30 April - two and a half years after its launch.
Within a few months of entering into the news industry, Al Jazeera America's profiles quickly rose among consumers and peers in the industry - in the light of its unrivaled journalism.
Last year, the company made efforts to increase ratings with the addition of more hours of programming with content from New York, London, Doha and Qatar, but the expectations of the network were not filled.
According to the International Monetary Fund, the Qatari government risks posting a budget deficit in 2016 amid low oil prices. There was widespread surprise when the channel opted to keep its Arabic-sounding name. From the start, the project was beset with massive failures, from bitter internal strife and employee discrimination lawsuits to minuscule ratings and distribution failures.
The wind-down comes amid turmoil at Al Jazeera America. Two baseball players named in the report, Ryan Zimmerman and Ryan Howard, have already sued.