logo image
  • News
    • People Moves
    • Deal Wins
    • Demand Drivers
    • M&A and Funding
    • Financial Results
    • Technology
    • Academia
    • Industry News
    • Features
    • Machine Translation
    • — Divider —
    • Slator Pro
    • — Divider —
    • Press Releases
    • Sponsored Content
  • Data & Research
    • Research Reports & Pro Guides
    • Language Industry Investor Map
    • Real-Time Charts of Listed LSPs
    • Language Service Provider Index
  • Podcasts & Videos
  • Events
    • Design Thinking – February 2021
    • — Divider —
    • SlatorCon Coverage
    • Other Events
  • Directory
  • RFP Center
  • Jobs
MENU
  • News
    • People Moves
    • Deal Wins
    • Demand Drivers
    • M&A and Funding
    • Financial Results
    • Technology
    • Academia
    • Industry News
    • Features
    • Machine Translation
    • — Divider —
    • Slator Pro
    • — Divider —
    • Press Releases
    • Sponsored Content
  • Data & Research
    • Research Reports & Pro Guides
    • Language Industry Investor Map
    • Real-Time Charts of Listed LSPs
    • Language Service Provider Index
  • Podcasts & Videos
  • Events
    • Design Thinking – February 2021
    • — Divider —
    • SlatorCon Coverage
    • Other Events
  • Directory
  • RFP Center
  • Jobs

Advertise on Slator! Download the 2021 Online Media Kit Now

  • Slator Market Intelligence
  • Slator Advertising Services
  • Slator Advisory
  • Login
Search
Generic filters
Exact matches only
Advertisement
Insolvent: Media Localizer TVT Brought Down by Dutch Acquisition

1 year ago

November 7, 2019

Insolvent: Media Localizer TVT Brought Down by Dutch Acquisition

Industry News ·

by Esther Bond

On November 7, 2019

1 year ago
Industry News ·

by Esther Bond

On November 7, 2019

Insolvent: Media Localizer TVT Brought Down by Dutch Acquisition

TVT Media, a London-headquartered provider of media localization and end-to-end content services, filed for insolvency on October 21, 2019, according to regulatory filings.

TVT’s operations in the UK generated revenues of nearly GBP 10m (USD 12.6m) in 2017 (the most recent year for which numbers are available), but the company’s global size is likely a multiple of the figure given that it operates large subsidiaries in the US, the Netherlands, Poland, Australia, Singapore, and Japan.

What brought TVT to its knees was its 2017 acquisition of Amsterdam-based Digital Media Centre (DMC). At the time of the acquisition, DMC employed over 200 people.

Advertisement

In 2018, the combined company rebranded to TVT Media. CEO Ian Brotherston praised the acquisition at the time, saying, “We have now positioned ourselves to more effectively enrich, localise and publish content, delivering it in 50 countries and 40 languages.”

Slator 2020 Language Industry Market Report

Data and Research, Slator reports
55 pages. Total market size, biz dev and sales insights, TMS & MT review, buyer segment analysis, M&A, Covid impact & outlook.
$480 BUY NOW

According to information obtained by Slator, the failure of DMC left its parent company unable to fulfil obligations under a large contract and compounded an already negative cash flow position, leading to the parent’s insolvency.

Advisory firm FRP has been appointed as administrator of the insolvent business. Contacted by Slator, a spokesperson for Philip Watkins and Philip Armstrong, two partners at FRP and joint administrators, confirmed that TVT Media has “entered administration following cash flow difficulties.”

Asia on the Block

FRP, which is now tasked with winding up the bulk of the business, told Slator they are working with customers to ensure a smooth handover to new providers.

Unaffected by the current administration is TVT Media’s Asia-Pacific business, which, according to FRP, “continues to operate as normal.” Slator has learned that FRP is looking for a buyer for the Asia business, consisting of four subsidiaries in Singapore, Australia, Japan, and a support office in the US. While FRP initially reached out to potential third-party buyers, the advisory firm is now considering a buyout by TVT Media management.

Slator RFP Service - Request for Proposal

RFP Center

Business Development, Market Intelligence
Receive daily email alerts of tenders and RFPs issued by governments, NGOs and private entities from across the world.
BUY NOW

Under the proposed deal, the 38 employees of the Asia-Pacific subsidiaries as well as a handful of London-based staff and equipment would be retained in order to continue delivering on ongoing client contracts.

Disruption is the operative word in media localization right now. Long characterized by deeply-entrenched incumbents, the industry is undergoing a fundamental shift as it retools for a world dominated by streaming.

Slator 2018 Media Localization Report

Slator 2018 Media Localization Report

Data and Research
25-page report. Entertainment media overview. Role of the language services industry. Market size. Competitive landscape. Biz Dev and Sales.
$85 BUY NOW

Media production giant Deluxe filed for Chapter 11 bankruptcy in October 2019, and rival media localizers IYUNO and BTI Studios joined forces in a merger in September 2019. All the while, new entrants have been flocking in to compete, as TransPerfect, Keywords Studios, and Straker Translations announced new acquisitions within the media localization space in recent months.

TAGS

bankruptbankruptcyBTI Studioscontent servicesDeluxeDigital Media CentreDMCFRPIan BrothertonIBCinsolvencyinsolventIYUNOKeywords Studioslanguage service providerlinear TVlocalizationMediaMedia LocalizationOTTPhilip ArmstrongPhilip WatkinsStraker TranslationsstreamingTelevision Versioning & Translation LimitedTransPerfectTVT LimitedTVT LtdTVT Media
SHARE
Esther Bond

By Esther Bond

Research Director at Slator. Localization enthusiast, linguist and inquisitor. London native.

Advertisement

SUBSCRIBE TO THE SLATOR WEEKLY

Language Industry Intelligence
In Your Inbox. Every Friday

SUBSCRIBE

SlatorSweepSlatorPro
ResearchRFP CENTER

PUBLISH

PRESS RELEASEDIRECTORY LISTING
JOB ADEVENT LISTING

Bespoke advisory including speaking, briefings and M&A

SLATOR ADVISORY
Advertisement

Featured Reports

See all
Slator 2020 Language Industry M&A and Funding Report

Slator 2020 Language Industry M&A and Funding Report

by Slator

Slator 2021 Data-for-AI Market Report

Slator 2021 Data-for-AI Market Report

by Slator

Slator 2020 Medtech Translation and Localization Report

Slator 2020 Medtech Translation and Localization Report

by Slator

Pro Guide: Sales and Marketing for Language Service Providers

Pro Guide: Sales and Marketing for Language Service Providers

by Slator

Press Releases

See all
iDISC Awarded ISO 27001 Information Security Management Certification

iDISC Awarded ISO 27001 Information Security Management Certification

by iDISC

XTRF Launches a Bi-Monthly Free Networking Event for Localization Professionals

XTRF Launches a Bi-Monthly Free Networking Event for Localization Professionals

by XTRF

150 Million Words Translated: the German EU Council Presidency Translator Sets New Records

150 Million Words Translated: the German EU Council Presidency Translator Sets New Records

by Tilde

Upcoming Events

See All
  1. Memsource MT Post-Editing Pricing Models Webinar

    Pricing Models for MT Post-Editing Workshop

    by Memsource

    · February 3

    Hear a panel of innovative localization professionals share different approaches for MT post-editing pricing.

    More info FREE

Featured Companies

See all
Text United

Text United

Memsource

Memsource

Wordbank

Wordbank

Protranslating

Protranslating

Seprotec

Seprotec

Versacom

Versacom

SDL

SDL

Smartling

Smartling

Lingotek

Lingotek

XTM International

XTM International

Smartcat

Smartcat

Translators without Borders

Translators without Borders

STAR Group

STAR Group

memoQ Translation Technologies

memoQ Translation Technologies

Advertisement

Popular articles

Why Netflix Shut Down Its Translation Portal Hermes

Why Netflix Shut Down Its Translation Portal Hermes

by Esther Bond

The Slator 2020 Language Service Provider Index

The Slator 2020 Language Service Provider Index

by Slator

Top Language Industry Quotes of 2020

Top Language Industry Quotes of 2020

by Monica Jamieson

SlatorPod: The Weekly Language Industry Podcast

connect with us

footer logo

Slator makes business sense of the language services and technology market.

Our Company

  • Support
  • About us
  • Terms & Conditions
  • Privacy Policy

Subscribe to the Slator Weekly

Language Industry Intelligence
In Your Inbox. Every Friday

© 2021 Slator. All rights reserved.

Sign up to the Slator Weekly

Join over 13,000 subscribers and get the latest language industry intelligence every Friday

Your information will never be shared with third parties. No Spam.