juin 2, 2016
After running the channel for over 10 years, Edmonton company Allarco Entertainment has declared bankruptcy for its network Superchannel.
Among the companies that are owed is Twentieth Century Fox and Warner Bros. for content airing on the pay TV service.
Allarco Entertainment president Malcolm Knox says dropping subscriptions in the last 18 months can be attributed to the low cost of Netflix. The company claims that even though some satellite providers of the channel have cut the cost of $15 to $18 in half, the price of cable is too high.
Chuck Allard whose father received Canada’s first pay-TV licence for Superchannel in the 1980’s owns Allarco Entertainment. The network owes creditors $115 million and has been granted protection while it goes through a court-supervised restructuring.