Iostar in Liquidation

LONDON, May 14: The new television production and
distribution firm Iostar, which launched at MIPTV, has gone into liquidation,
according to British press reports, following the resignation of its CEO, Dawn
Airey.

According to the Guardian, the company has failed to raise the £30 million needed to acquire a
range of assets, including a modeling agency and Stephen Fry's production
company. "The board of Iostar has considered a number of options to
continue the business according to a revised plan following its funding
difficulties and the resignation of its chief executive," a company
statement is quoted as saying. "However, it has not proved possible to
implement such plans in the time available to the board having regard to the
current financial position of the company. Accordingly, the directors have seen
no alternative but to take immediate action to place the company into
liquidation and have instructed David Rubin & Partners to commence these
proceedings."