Tech
Canis Media has said that the sale of troubled entertainment channel Film24 is "near to completion" and the new owner will be unveiled shortly.
In June, Canis - which acquires and sells EPG slots on Sky's satellite platform - took over the day-to-day management of Film24.
The situation occurred after Film24's principal shareholder, Lord Swaraj Paul's Caparo Group, opted to withdraw funding for the channel, placing its future in serious doubt.
Canis agreed to help the channel's owners to explore options for the future, including a "simple outright sale" of its EPG position, or a "rescue package" of some description, possibly involving a "joint venture with a new channel owner in the UK or overseas".
In a statement, Canis confirmed that the sale of Film24 is now "near to completion", but did not disclose any further details.
"We would like to thank all parties who expressed an interest in the business and hope to release a full and proper statement shortly with regards to the channel and its new owner," said the firm.
Previously available at position 157 on Sky's EPG, Film24 had an average weekly reach of around 800,000 viewers, according to BARB figures.
In June, Canis - which acquires and sells EPG slots on Sky's satellite platform - took over the day-to-day management of Film24.
The situation occurred after Film24's principal shareholder, Lord Swaraj Paul's Caparo Group, opted to withdraw funding for the channel, placing its future in serious doubt.
Canis agreed to help the channel's owners to explore options for the future, including a "simple outright sale" of its EPG position, or a "rescue package" of some description, possibly involving a "joint venture with a new channel owner in the UK or overseas".
In a statement, Canis confirmed that the sale of Film24 is now "near to completion", but did not disclose any further details.
"We would like to thank all parties who expressed an interest in the business and hope to release a full and proper statement shortly with regards to the channel and its new owner," said the firm.
Previously available at position 157 on Sky's EPG, Film24 had an average weekly reach of around 800,000 viewers, according to BARB figures.
Previous: BBC appoints new iPlayer general manager
Related Stories
Apple News
Apple, Samsung peace talks failChief executives of both firms fail to reach agreement, mean legal trial likely.
Satellite TV News
Sky marks Jubilee with Union Jack remoteSky and One For All create universal remote celebrating the landmark UK summer.
Cable News
Pirate Bay blockade begins with VirginBT, Sky, others to follow suit, but rights groups warn it won't tackle piracy.
Freeview News
Freeview+ made easier for blind peopleRNIB develops software to make it easier for blind people to use Freeview+.
