Board agrees to dissolve 4DG

LONDON - Shareholders of 4Digital Group, the planned digital radio operator, have agreed to pull the plug on the consortium, dissolve the business and hand the licence back to Ofcom.

Channel 4: to produce detailed management accounts for 4DG shareholders
Channel 4: to produce detailed management accounts for 4DG shareholders

The decision was taken in principle during two board meetings over the last two weeks.

However, before the venture is closed, it is understood shareholders are waiting for Channel 4 to produce detailed management accounts.

Minority 4DG shareholders Bauer Media, UBC Media, UTV, Carphone Warehouse and BSkyB were told they would receive the accounts by 8 December, after the last board meeting on 5 December had to be terminated because the accounts contained insufficient information.

A Channel 4 spokesman said: We’re working collaboratively with all our 4DG partners about the best way forward for the multiplex.
An Ofcom spokesman said: The last formal request from 4DG was for a delay to launch. Ofcom agreed to give 4DG until the end of January to come back with their plans. We are aware that discussions between 4DG shareholders are ongoing.

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