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ITV Digital debt payouts cut

Granada, Carlton will collect the largest sum

LONDON — Creditors of the failed ITV Digital platform have been offered a derisory payout by U.K. liquidator Grant Thornton.

BSkyB will receive only £420,000 ($655,200), a small portion of the $328 million the paybox is owed. Crown Castle, a partner in ITV Digital replacement Freeview, has been offered just $499,000 of the $250 million it is owed.

Former ITV Digital shareholders Granada and Carlton, the platform’s largest creditors, will collect the largest sum — $1.3 million. The pair were owed a whopping $627 million when ITV Digital shuttered in April 2002.

ITV Digital’s failure caused the loss of 1,500 jobs and cost Carlton and Granada $1.7 billion over 3½ years.

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