ITV Digital returns for the final time

Posted on 3 April 2003 in Television (No comments)

Just over a year after ITV Digital (previously known as OnDigital) went into administration, the whole saga seems to be drawing to a close. For me anyway.

The liquidators believe it may take up to two more years before they can start paying out cash to people, but this evening I helpfully recieved a nice letter telling me how much money I might be able to expect.

As a pre-pay subscriber with over 6 months left on my subscription, I lost £60.83 (according to the company records, which tallies with my own estimate.)

The Liquidators have helpfully added an extra 10% to this value to "allow for a margin of error and minimise any disagreements". This comes out as £66.92.

Finally on the letter is an estimate of how much money, given ITV Digital's state of finances, I can expect to get back.

£1.34. Roughly a pound for every fifty I lost. Better than I was expecting to be honest.

Where has all my money gone?

Of course the poor subscribers, the people who gave ITV Digital a business are the ones who will see least out of the cash. Most of the money raised by selling off monkeys and computer equipment goes to the two companies who got ITV Digital in the mess it was in - Carlton and Granada. Not that I'm bitter or anything.

And ironically the amount of money I stand to recieve is so small, that to actually pay the money into my bank account, when it finally appears, would cost more money than the actual amount.

Long time passing...

With the fact that paying for the money to be given to subscribers will cost probably double the money being actually payed out, the liquidators have suggested that former subscribers give their money to charity - with the cash raised being split between Marie Curie Cancer Care, the NSPCC, Make-A-Wish and the RNIB, although of course I could wait to recieve my £1.34.

Given the pitance involved, I've decided to give my £1.34 away. After all, it's a trivial amount. Of course they don't say in the letter, what happens to the money saved by not making all these pitifully small payments - presumably it goes back into the giant pot of cash to be redistributed to the creditors, meaning that no doubt Carlton and Granada will get a few more quid. So will the charities but that's not the point. Of course the only way to find out for sure is to ring the 'information' line and ask, and to be honest, I can't be bothered.

Andrew's Final Thought.

So once I've filled in the form saying "go on then, do something useful with it", this sorry take will have ended. Well for me anyway.

And reflecting it seems to be, that really the only people who will have benefited out of the demise, will be the recievers and liquidators brought in to make sure the whole sorry mess is cleaned up. Obviously their fees will be taken out of all the cash raised before everyone else gets to see a single penny.

But there you go, the end it is. 18 months of pay-TV, a loss of "60 and set top box whose remote is getting dodgy, and who keeps playing up every time I try to watch News 24. Still, it's a laugh isn't it?

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