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Latest Satellite News Discussion, Defunct Alt TV had $3m debt: at General Satellite News forum; "Alt TV, the channel that pushed boundaries with New Zealand's first - and probably last - topless newsreader, owed more ...

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Post Defunct Alt TV had $3m debt: - 04-April-2009, 20:18

"Alt TV, the channel that pushed boundaries with New Zealand's first - and
probably last - topless newsreader, owed more than $3 million when it went
into liquidation last month.

Liquidator Anthony Harris said the station failed because of substantial and
consistent trading losses.

The chances of unsecured creditors getting back some of the $1.36 million
owed were " remote", he said.

The channel - whose shareholders had included TV3 Sunrise breakfast show
host Oliver Driver - went off air on March 6.

Mr Driver declined to discuss his involvement in the collapsed channel.

"I don't think I can be any help. We sold Alt TV before it went off air and
signed a confidentiality agreement with the new owners."

A total of four shareholders, including Mr Driver and Alt TV and George FM
founder Thane Kirby, left the company in January when it was taken over by
its financier, Easy Factors.

Freeview may look to revive Alt TV."
   
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