TVS estimated that programmes like the childrens show Motormouth which costs £100,000 an hour, The Ruth Rendell Mysteries about £500,000 may well have to be dropped from the ITV network.
The board of TVS tried to find a future for the company, becoming a independent producer was an option, in fact Tony Brook, TVS Managing Director, insisted that TVS would survive as a producer of quality programmes not only for ITV but other broadcasters in the UK and worldwide, but this was not to be, as most in house productions were now being produced by Independents set up by TVS staff, such as Topical Television.
MTM the american subsidiary sold it's half share of a Hollywood studio to the Walt Disney Company for $27m this enabled MTM to reduce it's debts to $46.6 million.
Towards the end of 1992 TVS Entertainment planned to become a leisure & communications company, selling the Southampton complex along with the news archive of Southern & TVS to Meridian Broadcasting for £7.5m. TVS Entertainment would retain the Maidstone studios and film libraries of TVS & MTM, Meridian agreed to rent the news facilty for an intital 10 year period. During 1992 TVS' pre-tax loss jumped from £8.3m to £26.7m, Rudolph Agnew said the loss of the licence was "a heavy blow, but not a mortal blow".
TVS bowed out from the ITV Network after ten years service at Midnight on the 31st December 1992, with a programme of it's finest output, presented by 'Our' Fred and Fearn Britton. The programme included interviews with TVS staff and stars such as Matthew Kelly, George Baker and Bobby Davro also including Greg Dyke a former director of TVS, now Director General of the BBC.
On the 1st February 1993 the American company International Family Entertainment (IFE) purchased TVS Entertainment for $85m. IFE President said "We see the potential for substantial synergies to result from this combination. The film libraries of both TVS and MTM will be valuable resources for our future programming needs on the Family Channel". The Family Channel would operate from TVS' Maidstone complex.
The TVS General Programme library has been passed around recently, Meridian tell us that it has been sold it and is now the property of Saban Entertainments Inc, enquires should be made to:-
Saban Entertainments
4000 West Almeda Ave
Berbank
USA
CA91 505
Meridian Broadcasting a Granada Media Company is now the ITV Contractor for the South & South East.
