ITV Digital wins one week reprieve

12 April 2012

AILING ITV Digital has won one more week to cut a deal with the Football League, its main creditor, over their disputed broadcasting contract. Administrators Deloitte & Touche told the High Court talks to resolve the row were at a crucial stage.

The administrators said they were hopeful of restructuring the business, and were prepared to put it up for sale if the talks over the £315m deal failed. ITV Digital is jointly owned by Granada and Carlton Communications.

Deloitte said proposals had been put to the League, which would be considered by the clubs' chairmen on Thursday. Carlton and Granada had confirmed that they would not fund a continuation of the administration. Michael Crystal, QC for Deloitte, said 'the survival of this company now hangs on a knife-edge'.

The League's chief executive, David Burns, indicated earlier that the League would consider an offer of £100m from ITV Digital to settle the dispute.

After today's hearing in London, Deloitte said restructuring had been hampered 'by the unauthorised disclosure of private and confidential discussions and the campaign of negative publicity which has continued this morning and is severely undermining the administration process'.

If the League rejected the latest proposals or the administrators concluded that the 'on-going recriminations have undermined our ability to achieve the business plan', there would be no alternative but to sell the business and its assets.

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