BusinessCompany NewsITV Digital goes into extra time

ITV Digital goes into extra time

ITV Digital has been given a stay of execution after administrators today told the High Court there was a 'serious prospect' of restructuring the pay-tv business.

Administrators have now been given an extra week to strike a deal with the Football League following a High Court hearing today.

The Football League is still pushing to negotiate with ITV Digital’s parent companies, Granada and Carlton Communications though it has yet to hear from the media giants.

But the administrators hit back this morning at the ‘campaign of negative publicity’, saying the disclosure of confidential discussions was undermining the administration process, warning it could have damaged their ability to restructure the business.

In a statement, the administrators said that, despite being given another week to negotiate a deal between the Football League and ITV Digital, it was also preparing to sell the business and its assets.

They said: ‘Should the Football League reject the proposals or we conclude that the on-going recriminations have undermined our ability to achieve the business plan, we will be left with no alternative than to implement a sale of the business and assets.’

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