Tech
The Joan Collins-backed station 'Channel Health' is on the verge of liquidation, reports the Media Guardian today.
The digital channel, once valued at more than £20m, has gone through more than £7m in cash since its flotation in August 2000. Average viewing figures stand at just 3,000.
"As a consumer facing advertising funded channel it is very, very difficult to sustain," said the channel's chairman Simon Lynds. "It was a story built on sand."
A creditors meeting on Tuesday will seal the channel's fate; the probable outcome being the appointment of Gibson Hewitt as liquidators.
The digital channel, once valued at more than £20m, has gone through more than £7m in cash since its flotation in August 2000. Average viewing figures stand at just 3,000.
"As a consumer facing advertising funded channel it is very, very difficult to sustain," said the channel's chairman Simon Lynds. "It was a story built on sand."
A creditors meeting on Tuesday will seal the channel's fate; the probable outcome being the appointment of Gibson Hewitt as liquidators.
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