TV-am, the breakfast TV company that was replaced by GMTV on January 1, looks as if it could be heading towards voluntary liquidation. The latest indication of this is the fact that the company has plans to sell a 16% stake in the Metro Radio Group, worth up to £4m.
It has also been suggested that the TV company, headed by Bruce Gyngell, is considering giving up its stake in Virgin Radio , jointly owned with the Virgin Group. Mr Gyngell is leaving TV-am to go to Channel 9 in Australia. Since losing its franchise the company has attempted to get a foothold in several business ventures which never got off the ground.
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