Wed, 14 Sep 2016 | BUSINESS SALE
A broadcaster that went into administration may have found a buyer.
Bay TV, based in Liverpool, went into administration with debts of more than £450,000 after failing to come to an agreement with its creditors.
The company called in administrators Refresh Recover, of Skelmersdale, which continued the broadcasting in an effort to sell the TV station as going concern.
Bay TV chief executive, Chris Johnson, told the Liverpool Echo: “We are working hard with the administrators to keep the business operating as a going concern. I am confident that the station will remain on air – it’s still on air and will remain on air.”
The station was launched in 2013 after winning the Local TV Licence for Liverpool. It is one of a number of city stations broadcasting across the UK.
It is understood there were three different companies interested in taking over the station and Made Television, which has already invested in the Liverpool station, appears set to do so if approval is given by broadcast watchdog Ofcom.
Made Television is the biggest company in the UK’s City TV industry and has teamed up with members of the Bay TV management to fully acquire the station, which will be known as Made in Liverpool.
Jamie Conway, CEO of Made Television, said: “City TV is a fledgling industry and there will inevitably be successes and failures along the way. While some have read into Bay TV’s situation as detrimental to the industry, we are committed to investing in this important and nascent new sector in television as are the management team of Bay TV who we are proud to work with.”
You can search here for businesses for sale
This company specialises in supplying the highest quality natural stone products, offering a complete turnkey solution to its customers from sourcing, through to processing, design and final distribution and delivery. Offers invited.
RELOCATABLE
Precision Engineering Business for sale operating with a modern, well equipped machine shop, offering Engineering Development Modelling (EDM), CNC turning & milling, grinding, boring and fitting. Offers invited.
LEASEHOLD
High quality practice with strong middle management on the market for the first time. Established: 25 to 30 years. Strong middle-tier management to support acquirer throughout the transition period and on an ongoing basis. Locations: Cheshire, Mersey...
|
19
|
|
Sep
|
Smith & Williamson and Tilney to merge | MERGER
After revealing in August this year that talks were in place...
|
18
|
|
Sep
|
Infrastructure investment manager takes stake in LJLA | BUSINESS SALE
Infrastructure investment management group, Ancala Partners,...
|
17
|
|
Sep
|
Impact REIT snaps up Suffolk-based Cardinal Healthcare business | BUSINESS SALE
Impact REIT has successfully acquired Cardinal Healthcare, a...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources