ITV Digital will not close on Monday according to administrator

LONDON - ITV Digital administrator Deloitte & Touche has dismissed as speculation reports that the broadcaster will close on Monday.

This week reports have suggested that ITV Digital's owners, Carlton Communications and Granada, had only set aside further funding of £20m, which would only last until Monday because the service is losing £1m a day.

A spokewoman for Deloitte said it is to appear at the High Court on Monday on behalf of ITV Digital to give the court an update on the broadcaster's current situation.

She said it was this which was fuelling speculation that this weekend would be D-Day for the broadcaster.

ITV Digital was placed into administration on March 27 after it refused to pay the £178m it owes the Football League for the final two years of its £315m three-year contract.

Talks are thought to be ongoing between the league and ITV Digital, but the league is still threatening to sue ITV owners Carlton and Granada for £500m if a favourable settlement is not reached.

ITV Digital has so far offered £50m to the league for the final two years of the contract, which has been rejected by the Football League.

Deloitte has three months from the date it took on ITV Digital to try to find a solution to the broadcaster's problems.

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