Make sure you don't have enters or spaces behind the last word (needs) remove them see that your cursor can not go further then nees, if it does there are some spaces or enters behind it. (you won't see them but your cursor can tell you if they are there)

also go to the object cell style, then set outer and inner margins lower or to zero.

goodluck

Thank you for the quick response!

I've tried both options and the gap is still huge. Could it be the picture I'm using? I made banners for a slide show...

I've attached a picture of the spacing after I set the margins to "0" and ensured that there's no spacing after the text.

If these are correct that this can be an issue.

Can you attach this picture?

Corrette de Jager, you must use the photos that have all the same size, for example 800x579 px, as you can see in the screenshot attached (images for slide 01).
When you go into WEBSITE X5, and then go in the Object Gallery, you must enter in SETUP / MAXIMUM DIMENSIONS the same size of the photos that you used to create the slideshow, as you can see in the screenshot attached (images for slide 02).
Make PREVIEW and you'll see that there will be no empty space between the TEXTS and SLIDESHOW, see attached screenshot (images for slide 03).

images for slide 02.....

images for slide 03 (PREVIEW).... that's all :-)