Tue, 12 Aug 2014 | ADMINISTRATION
A new television channel called City TV, or BLTV as it is also known, has been placed into administration after difficulties getting started with broadcasting.
Administrator Duff & Phelps came into the Birmingham-based company on Friday (8 August), which had been awarded a licence to offer digital television programmes to Birmingham viewers.
The licence was granted in 2012 and the company had until November to commence broadcasting, but did not have a studio or the equipment needed to do so owing to a failure to find the financing required.
The administrators said the troubled company will now work with Ofcom to transfer the licence and return funds to creditors.
City TV had won the highly coveted licence after a competition process. Ofcom had received 57 bids to run TV channels in Britain. Despite its ambitions and having plans for programming in place, City TV could not get the funding it needed.
Joint administrator Matt Ingram said: “We are aware of considerable interest from a number of local television operators in continuing with the Birmingham area opportunity and we are already engaging with them, and Ofcom, to secure a successful transfer of the licence.”
Ofcom has so far handed out 30 licences, with stations in London, Norwich, Nottingham, Grimsby and Glasgow on air.
Plans for a network of local TV stations from former Culture Secretary Jeremy Hunt have been lambasted as not commercially viable.
_____________________________________________________________________
Related information:
More on distressed businesses
A unique opportunity for a home improvement and glazing business to expand their operations in Sussex and nationwide. This business has stood the test of time since its first installation 36 years ago and continues to flourish.
Double fronted end of terrace premises in the region of 1,197 ft² real wood flooring, assorted pendant and spotlights. CCTV (10 cameras.) tables and chairs, in total, seating 80 people including semi permanent construction to the front with retractab...
LEASEHOLD
Fish & chip shop plus café for sale offering double fronted corner premises in the region of 1,029 ft² located in the North East.
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.