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TV-4 Norway, beleaguered by debts of almost $ 2.3 million, threw in the towel last week and declared bankruptcy.

Some 20 employees lost their jobs as the channel went off the air Nov. 10.

The Allied Entertainment Group, a diversified U.K. entertainment company with interests in concert promotion, opera, film and TV production and video distribution, had been running the station since April 1992 when toppers Ed Simons and Harvey Goldsmith bought 23% of the shares from Swedish parent company TV-4 for an undisclosed amount. (They acquired the entirety of the company in August.)

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