Turner Broadcasting System Europe has acquired one of two slots on the BSkyB EPG released when the previous owner went into administration.
UK broadcast management company Canis Media sold off the Price Drop and Bid TV channel EPG slots after the networks’ parent company Sit-Up went into administration in April.
Canis has sold the channel 654 (Price Drop) and 645 (Bid TV) to Turner Broadcasting System Europe and The Genuine Gemstone Company (TGGC), respectively.
Turner will establish channel 654 as an entertainment network, while TGGC will move its Gems TV channel from its existing EPG slot 652 to the newly acquired 645. It will use the 652 channel position to launch a new teleshopping channel designed to “help poverty in third world countries,” called Equal World.
Sit-Up Limited appointed KPMG as administrators in April, laying off all 229 of its employees, shutting off broadcast to its channels and closing its online shop in the process.
“It is really disappointing, given the hard efforts of the company and the support of the majority of its creditors, that a satisfactory conclusion to the restructuring could not be reached,” said KPMG partner and joint administrator, Will Wright, speaking at the time.