MobiTV has voluntarily filed for bankruptcy under the US Chapter 11 code.
The company announced it intended to use the proceedings for a period of restructuring that would position the Company’s operating platforms for long-term sustainability and growth.
Its received a commitment for a $15.5 million debtor-in-possession financing facility that will support the Company for the duration of the restructuring process.
In July 2019, MobiTV says it planned to accelerate its international footprint after it secured $50 million in funding. At the time the app-based TV service claimed two million subscribers across 90 pay-TV operators.
Broadcasters including A+E Networks, AMC Networks, C-SPAN Networks, Disney and ESPN Media Networks, Showtime and Viacom are available on the platform.
