The administrators of ITV Digital have today confirmed that they will be closing the pay TV operation of the company this evening. In a statement released this afternoon, Deloitte & Touche said that “Insufficient interest has been shown from prospective purchasers to justify a continuation of the operation”.
It is thought that the free to air channels will continue in the short term whilst the administrators pursue the best realisation for the value of the assets. Sky, which provides 25% of ITV Digital’s output, had already announced that it would “pull the plug if it is not paid by midnight”.
The administrators said: “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”
The statement concluded “We will be contacting subscribers, employees and creditors as we move to close the administration.”
The ITC confirmed shortly after the announcement that the administrator has surrendered the three multiplex service licences currently in the name of ITV Digital.
