TV
The Joint Administrators of ITV Digital, N.J Dargan & N.G. Edwards of Deloitte & Touche, issued the following statement on 30th April 2002:
The Administrators of ITV Digital have today confirmed that they will be closing the Pay Television operation of the Company from this evening. Insufficient interest has been shown from prospective purchasers to justify a continuation of the operation.
The free to air channels will continue in the short term whilst the Administrators pursue the best realisation for the value of the assets.
It is with regret that we take this course of action. We have made strenuous efforts initially to restructure the cost base and latterly to sell the business and assets but unfortunately there is no appetite in the market for a preservation of the business as a going concern.
Arrangements have been made for the surrender of the multiplex licences to the ITC. We understand the ITC will issue invitations to re-tender those licences on a more flexible basis tomorrow, Wednesday, May 1.
We will be contacting subscribers, employees and creditors as we move to close the administration.
The Administrators of ITV Digital have today confirmed that they will be closing the Pay Television operation of the Company from this evening. Insufficient interest has been shown from prospective purchasers to justify a continuation of the operation.
The free to air channels will continue in the short term whilst the Administrators pursue the best realisation for the value of the assets.
It is with regret that we take this course of action. We have made strenuous efforts initially to restructure the cost base and latterly to sell the business and assets but unfortunately there is no appetite in the market for a preservation of the business as a going concern.
Arrangements have been made for the surrender of the multiplex licences to the ITC. We understand the ITC will issue invitations to re-tender those licences on a more flexible basis tomorrow, Wednesday, May 1.
We will be contacting subscribers, employees and creditors as we move to close the administration.
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