Channel One
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Thursday 3 September 1998
Channel One, the local information television station for London and Bristol, which is wholly owned by DMGT, is to close this month.
Says Managing Director Julian Aston: "Our projected level of cable subscriptions will not enable Channel One to break-even by the end of the present licence period so, sadly, the Channel will stop transmitting this month."
"During four years on air, Channel One has pioneered quality, local television news and information programming, introducing fresh technical and news-gathering techniques that have since been adopted by both terrestrial and satellite broadcasters. The Channel has also been, over the last four years, the broadcast industry's unofficial training school."
"However, in the increasingly competitive broadcasting environment, cable television has not attracted sufficient subscription revenue to allow Channel One to become economically viable."
The estimated costs of closure will not have a material impact on the DMGT Group's results for the year to 27 September 1998.
Channel One Liverpool Ltd, a joint venture with the Trinity Group plc, is unaffected by this announcement and will continue to broadcast.
Inquiries:
Peter Williams 0171 938 6631