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Money Channel loses Faith

Former pop heart-throb Adam Faith has stepped down as executive director of the Money Channel, the TV station he founded.

The company announced interim losses of £4.9m last week. It has attracted weekly audience figures of only 130,000, a figure it is looking to boost through a shift towards the sale of on-screen services with digital interactive advertising to the financial services industry.

Faith is to take up a non-executive role in creative strategy and will continue to present a programme called Jargon Busters, which sets out to help consumers through the technicalities of financial language. Editor-in-chief Toby Law has been appointed to the board as director of programming.

Money Channel chairman Paul Killik says: “The unanimous view of the board is that a greater understanding of the financial services industry coupled with a highly effective sales and marketing process would be fundamental in developing the revenues that are critical to our future.”

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