SD : Sit-up ask workers to take Price Drop to keep channels bidding.

[Media Boy UK]

Info from Shopping telly.tv Forum.

The auditors for Sit up / Bid TV have sent a pack to everyone they owe money to - this includes suppliers, freelancers, staff etc. They are seeking a voluntary agreement to write off £68 million worth of debt. They are offering just £600k towards what they owe. That means at best everyone will get less than 1% of what they are due. So if they owe you £100 you will get less than £1.

Voting on a CVA is set for 2pm (UK Time) today (March 18th).

For more info go to http://forum.shoppingtelly.com/forum...-and-suppliers or http://forum.shoppingtelly.com/forum...s-CVA-proposal

Rumour from Coming Soon to Virgin TV (2014) Thread:

Originally Posted by RichardCoulter

Just heard a rumour that price-drop (741) and bid (745) are going to be removed by VM.

[RichardCoulter]

This sounds like a raw deal, but if the company went bankrupt, it's very unlikely that they would get anything. 1% is better than nothing!

It's a bad deal for staff, as if the company were to cease trading, any redundancy payments that could not be met by the company could be claimed from the National Insurance fund.

Did VM used to own these channels in the past and sell them off, or am I thinking of another shopping channel

I seem to remember VM decrypting and making the channels totally Free to Air in order to widen their reach.

[Media Boy UK]

Originally Posted by RichardCoulter

This sounds like a raw deal, but if the company went bankrupt, it's very unlikely that they would get anything. 1% is better than nothing!

It's a bad deal for staff, as if the company were to cease trading, any redundancy payments that could not be met by the company could be claimed from the National Insurance fund.

Did VM used to own these channels in the past and sell them off, or am I thinking of another shopping channel

I seem to remember VM decrypting and making the channels totally Free to Air in order to widen their reach.

Sit up launch in 2000 as an independent Company before being sold to Telewest (Now part of Virgin Media) in 2005. Sit-Up Ltd was sold by Virgin Media to Aurelius AG in 2009. In December 2013, the struggling Bid Shopping group was taken over by former Corporate Restructuring Lawyer Bryan Green, the channel had posted pre-tax losses of 7.4m in 2011 and a 10% fall in sales.

http://en.wikipedia.org/wiki/Bid_tv

[RichardCoulter]

Originally Posted by Media Boy

Sit up launch in 2000 as an independent Company before being sold to Telewest (Now part of Virgin Media) in 2005. Sit-Up Ltd was sold by Virgin Media to Aurelius AG in 2009. In December 2013, the struggling Bid Shopping group was taken over by former Corporate Restructuring Lawyer Bryan Green, the channel had posted pre-tax losses of 7.4m in 2011 and a 10% fall in sales.

http://en.wikipedia.org/wiki/Bid_tv

Thought so, thanks for the info. MB

[Sirius]

Shopping channels must be a big risk to any service provider

Sit-up seems secure for now, with a majority of creditors having approved the CVA.

http://www.retail-week.com/multichan...ontentID=13145

[Mad Max]

Originally Posted by Sirius

Shopping channels must be a big risk to any service provider

Shopping channels are a complete waste of a channel slot imo!

Originally Posted by Mad Max

Shopping channels are a complete waste of a channel slot imo!

Well better than yet another + channel full of repeats.I don't watch them myself but there are those who do and why should their interests not be accommodated.

[Mad Max]

Originally Posted by Maggy J

Well better than yet another + channel full of repeats.I don't watch them myself but there are those who do and why should their interests not be accommodated.

I agree with you on the +1 channels, it would be interesting to find out what the viewing figures were/are, i just wish Virgin would concentrate on more quality than quantity of channels, instead of more and more total rubbish! Apart from that, it was just my opinion in any case!

[OLD BOY]

Originally Posted by Mad Max

I agree with you on the +1 channels, it would be interesting to find out what the viewing figures were/are, i just wish Virgin would concentrate on more quality than quantity of channels, instead of more and more total rubbish! Apart from that, it was just my opinion in any case!

With three tuners, if you want to make the most of your ability to record and watch programmes when you want, you need the +1 channels to avoid clashes.

As they are not stopping other channels from launching, I don't really understand the objection. Bandwidth is no longer a problem for Virgin Media.

I don't watch the shopping channels at all, but I recognise that some viewers are hooked on them, and also they bring in useful revenue for Virgin Media.

[Itshim]

When in the UK +1 are a must - Thursday night is log jam for me.
Not a problem when back in BR

[RichardCoulter]

I have only ever used a shopping channel many once years ago, but shopping channels can be useful, eg for the disabled. They have, however, taken a hit with the increased useage of the internet over the years.

I agree that +1 channels are useful for resolving recording clashes.

---------- Post added at 17:15 ---------- Previous post was at 17:14 ----------

Originally Posted by Itshim

When in the UK +1 are a must - Thursday night is log jam for me.
Not a problem when back in BR

How many tuners do you have in BR Itshim?

[spiderplant]

Originally Posted by Mad Max

I agree with you on the +1 channels, it would be interesting to find out what the viewing figures were/are

Here you go
http://www.barb.co.uk/viewing/weekly...g-summary?_s=4

[vincerooney]

Originally Posted by spiderplant

Here you go
http://www.barb.co.uk/viewing/weekly...g-summary?_s=4

interesting site cheers for this spiderplant

[johnathome]

I see from that site 5+24 is really pulling in the viewers!