Yes- If content is no longer relevant to your marketing program or out-of-date, you can unpublish that content. The content will no longer be available for viewing or publicly listed. However, it will remain in your channel manager's content list: which acts as a history of your content creation.
To unpublish content:
1. Click on "Manage" next to the content
2. Click "Edit details"
3. Change the toggle to "Unpublish"
4. Click Proceed.