The Estonian channel Kalev Sport, which last month rebranded as TV4, has filed for bankruptcy.
The service, which was launched in November 2007, had failed to secure a partner/investors after having held talks with parties from Estonia, Finland, Sweden, Ukraine and the US.
None expressed a willingness to commit themselves to a channel that would be competing with both Schibsted and Kinnevik, and in a market in which the local currency is overvalued.
It is anticipated the channel will leave the DTT service on Friday, though may continue on cable.