Story from Media Guardian:
In The Evening Standard financial accounts the company said London Live, the capital-focused TV station profits plunged by 75% because of the loss of an unnamed key customer. Pre-tax profits fell to £746,000 in the year to 30 September 2023, compared with £2.99m in 2022. Revenues almost halved from £7.2m to £4.1m.“The company’s historical profitability was dependent on a key custom relationship which expired at the end of 2022,” the company said. “Therefore, there is a material uncertainty which may cast significant doubt on the company’s ability to remain a going concern. It is anticipated that in the event that further funding is required, the major shareholder will continue to financially support the company.”London Live said that as at the end of September last year, it had net liabilities of £1.78m.
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