Freeserve founder snaps-up Money Channel for £1.7m

NEWS Peter Wilkinson, one of the co-founders of Freeserve, has paid £1.7m for the assets of the defunct Money Channel. The company went into administration in May, leaving just over 1,000 shareholders with no return on their investment. But today's deal, reported in the FT, should see them get some money back. The paper claims that a consortium formed by Wilkinson called Digital Interactive Television Group plans to launch gambling and shopping channels after the purchase of the Money Channel's assets, which include state-of-the-art digital post production facilities. The Money Channel was set up by pop singer Adam Faith in 1999.