Ukrainian pubcaster feels the heat

The Ukrainian public broadcaster NTKU, or First Channel, has found itself on the verge of bankruptcy.

Kommersant reports that this follows its failure to pay off a loan of more than $13 million (€10.2 million), secured for a period of 10 years, in 1996.

The NTKU has been pursued for the money since 2008 and it is now required to pay some $23.4 million, having failed in an appeal to the Supreme Economic Court in August this year.

It is now hoping for help from the government and if it is not forthcoming there is a real possibility that the NKTU may be sold.