TVS Refinancing

TVS has confirmed that it has reached agreement with its bankers over its financial position, and is now assured of continued funding until the end of the franchise period.

Existing American borrowings will remain, and British bankers have re- affirmed the bank’s facilities.

However, the station has announced that it will cut costs to “the lowest level consistent with maintaining programme commitments.”

This will include cutting its regional programmes by two hours a week to the minimum 12.5 hours required.