Following a hearing in the High Court this afternoon, Deloitte’s Nick Dargan and Nick Edwards were appointed to oversee the affairs of the digital broadcaster.
Dargan has confirmed that funding has been provided to enable the business to continue in the short term, but warned there was ‘a short period of time’ to secure supplier agreements so the service could continue to be provided to subscribers.
Last month Deloitte was brought in to help ITV Digital, which was backed by Granada and Carlton Communications, to reduce its cost base – the two media giants have poured £800m into the project.
ITV Digital had for some time been struggling under the weight of its £315m cost of televising Football League games.
Political and economic uncertainty behind the fall in confidence
Just Racing Services, operating company of the Manor Racing Formula One team has entered administration
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Team Rock the publication of classic rock is in administration with FRP Advisory