‘Just speculation’, said ITV Digital’s administrator Deloitte & Touche, of media reports that the broadcast platform, now on life support and reportedly losing £1 million a day, will close as of Monday April 15.
Closure rumours have continued to mount this week following a report [WAMN: 09-Apr-02] that only £20 million ($28.71m; €32.61m) has been set aside to continue funding ITVd during administration. A D&T spokesperson insisted Wednesday that April 15 is significant only in that it is the date appointed by the High Court for the administrator to report current progress.
But Deloitte has just three months from the date it assumed responsibility (March 27) to resolve the broadcaster’s problems. At a cash burn rate of £20m daily, a substantial top-up will be needed – and soon.
The key to survival, as the world knows from press coverage ad nauseum, is resolution of the pricing dispute between ITVd and the Football League. Insiders in both camps believe the two sides are playing brinkmanship games and that the matter will be resolved at the eleventh hour and fifty-ninth minute.
Data sourced from: BrandRepublic (UK); additional content by WARC staff