The future of Iostar could be in doubt after Dawn Airey, former MD of Sky networks, quit last week.
Airey left after just one week owing to concerns about the company’s financial arrangements and is understood to have shown doubts that Iostar will be able to live up to its original vision.
The company, which is positioned as a distributor and producer of content, approached family trusts, media funds and private institutions for funding.
However, each private company agreed to be part of the new venture only if all of Iostar’s intended acquisitions, such as the purchase of talent agency PFD, were completed.
Finally though, the board decided against restricting the finance to private investors and looked to other sources.
In addition, it had been rumoured that Nick Milligan, managing director of Sky Media, would leave Sky to join Airey at Iostar, but this now seems doubtful.
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