Birmingham Local TV Limited has gone into administration, without having broadcast any programmes.
In November 2012 BLTV was awarded a licence to provide local digital television programmes for 1.2 million households in the Birmingham area by the broadcasting authority Ofcom, following a competitive tender process.
The company had until November 2014 to start broadcasting, but it has not commenced trading and does not have studio premises or broadcast equipment, having been unable to secure sufficient financing.
Matt Ingram and John Whitfield, partners at Duff & Phelps, a global valuation and corporate finance advisor firm, were appointed joint administrators to BLTV Limited on 8 August 2014.
The administrators will work with Ofcom to secure a successful transfer of the licence and return funds to creditors.
Matt Ingram, joint administrator, commented: “BLTV was awarded the licence for Birmingham local television following a lengthy competitive process, overseen by Ofcom. Unfortunately, it would appear that despite having demonstrated a comprehensive programming proposal, the company was unable to secure the necessary funding to get the project off the ground, having been awarded the licence.
“We are aware of considerable interest from a number of local television operators in continuing with the Birmingham area opportunity and we are already engaging with them, and Ofcom, to secure a successful transfer of the licence.”