leadf
logo-loader
viewDCD Media Plc

DCD Media slumps as ITV axes Celebrity Squares

ITV has decided not to commission a third series of prime time gameshow Celebrity Squares.

DCD Media slumps as Celebrity Squares is cancelled by ITV
The show is hosted by Warwick Davis

Television production company DCD Media (LON:DCD) has confirmed there will be no third series of Celebrity Squares after ITV (LON:ITV) axed the show.

The TV broadcaster has decided not to commission a third series of the programme, which DCD said would impact its revenue in 2016.

The trading performance for this year remains on course, the company said, but “challenging trading conditions” are affecting commissions and will likely impact earnings in 2016.

DCD added, however, that it is encouraged by a “strong pipeline of opportunities in the production division”.

Additionally, the company’s majority shareholder, Timeweave - which owns 61% of the company - is owed £432,000 with a VAT payment of £152,000 for directors’ and accounting services.

DCD said it will likely again need to issue further convertible loan notes to Timeweave in lieu of the payment, like it did in 2014.

Shares dropped 31% to 250p today on the news.

Quick facts: DCD Media Plc

Price: 250 GBX

AIM:DCD
Market: AIM
Market Cap: £6.35 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Gunsynd PLC boss sees a lot of upside with portfolio 'geared towards...

Gunsynd PLC's (LON:GUN) Pete Ruse introduces the London-based investment firm to Proactive's Andrew Scott. He says GUN's an investor, first and foremost, in natural resources but also has the benefit of having quite an open investment policy which includes life sciences and gaming as well as...

1 hour, 58 minutes ago

2 min read