In April 2016, a cable TV operator in Queensland’s Blue Ridge region said it would sell the local cable TV station to a company with a history of failing to deliver on quality.
The TV station was Blue Ridge Cable TV, which had been broadcasting on a pay-per-view format.
However, it was put up for sale by the same company which had acquired it from a former operator in 2015.
At the time, Blue Ridge said the acquisition had not resulted in a satisfactory outcome and the sale had not been completed.
Now that the cable TV network has been re-sold, Blue Mountain Cable TV is in trouble.
The broadcaster had a good business last year, but its recent struggles have made it vulnerable to a repeat of the same scenario, analysts at Macquarie Capital Markets have said.
They said the company’s current performance was worse than expected, and the company was still expected to recover some of its costs.
“We’re looking for a return to profitability,” Macquarrie analyst Craig Macquillan said.
The ABC understands Blue Mountain has been in the red since 2016, and its recent troubles have left it unable to deliver a good quality channel.
It’s not the first time the Blue Ridge cable network has failed.
It was last bought in January 2017 by a company called Blue Mountain TV, who had been struggling to keep up with demand.
“The cable industry is in a downward spiral,” a Blue Mountain spokesperson said at the time.
“There’s no turning back now.”
The Blue Ridge TV operator had a better than average year last year and its CEO is currently in the process of finding a new business model.
Topics:business-economics-and-finance,business-group,broadband,media,business,media-and_entertainment,cabinet-office,government-and/or-politics,broadcasting,internet-technology,brisbane-4000,qld,australia,brisbane-central-4305,brisbanon-4800,brisco-4550,brisdale-4730,southport-4215,wilkie-4655,motorway-4205,qnd-4680,brisgarian-4350,kingston-7000,port-melbourne-5000,south-austra-4001,nsw,melbourne,brisford-7001,warrnambool-5000First posted January 06, 2019 06:33:55Contact Jason KellyMore stories from Queensland