ITV Digital can survive a few more days as for sale sign looms

LONDON - ITV Digital has enough money to continue trading for another few days, as feverish industry speculation indicates that its administrator is set to hang the for sale sign up later today.

Deloitte & Touche was appointed administrator of ITV Digital on March 27 and at the time its parents, Carlton Communications and Granada, had only set aside £20m of further funding for the business.

Based on calculations that ITV Digital has been haemorrhaging £1m a day, the industry has been predicting that the money would run out today.

However, a spokeswoman at Deloitte & Touche said that it still has enough money to keep the broadcaster going for another few days.

The spokeswoman said that she had not received instruction from Nick Dargan, the Deloitte-appointed administrator to ITV Digital, either way and that no announcement had yet been made about the company's fate.

Last Monday, the High Court gave Dargan seven days to look at options for ITV Digital, including renegotiating contracts with suppliers such as the Football League, the possible liquidation of the business and sale of its assets.

If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the .

Topics

Market Reports

Get unprecedented new-business intelligence with access to ±±¾©Èü³µpk10’s new Market Reports.

Find out more

Enjoying ±±¾©Èü³µpk10’s content?

 Get unlimited access to ±±¾©Èü³µpk10’s premium content for your whole company with a corporate licence.

Upgrade access

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an alert now

Partner content