Pay TV Company SelecTV $26 Million In Debt

Looks like today isn't a good news day for entertainment companies. Following the news that HybridTV is down to a skeleton staff comes word that PayTV operator SelecTV owes $26 million, and has just $1.5million in assets. Ouch!

The PayTV company is in administration and according to a report in The Daily Telegraph, would expect to reclaim 5-7c in the dollar if liquidated.

Given the lack of competition in the PayTV space, this isn't very good news. But if you were thinking of signing up with them as a low-cost alternative to Foxtel, you might want to rethink that idea as well...

[Daily Telegraph via TV Tonight]

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