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.”
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