One more week for ITV Digital

The administrators of ITV Digital were today given a further seven days by the High Court to negotiate a deal with the Football League and put an end to their bitter broadcasting contract dispute so that the company can continue in business.

Michael Crystal QC, for administrators Deloitte and Touche, said that, after discussions with the key stake-holders in the company, they believed it was in the common interests of everyone concerned for the business to continue.

There was a real prospect of achieving a "restructuring of the cost base of the business" with a view to obtaining long-term investment from shareholders.

If no restructuring could be achieved within the next week, the business would come to an end and the administrators would then seek to sell it as a going concern.

City & Business