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Doubts on Money Channel?

The future of The Money Channel, the digital finance TV channel transmitted on Sky, is in doubt after it announced the suspension of its shares.

The move could spell the end of personal finance TV following the closure of rival SimplyMoney two weeks ago.

A spokesman for the channel whose founders included Adam Faith and Paul Killik, says a team of accountants have been appointed to assess financial viability and would be reporting later this week. He says: “Revenues do not cover projected working capital requirements. The company is looking at refunding options but has not run out of cash yet.”

IFA Promotion is an advertiser on the channel and IFAP chief executive David Elms says: “If this media is under threat it would be a great shame because they offer a valuable service to the consumer. It would be interesting to see how much this has been affected by a downturn in advertising following stockmarket volatility.”

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