- Flextech is understood to be holding talks with Mirror Group to acquire its struggling cable television operation, Live TV, with a view to closing it down.
Flextech's plan is to buy Live TV and replace it with a set of interactive services. It is currently negotiating with cable companies to get an agreement to do so.
Famed for its topless darts, weather in Norwegian and the news bunny, Live TV has been on the market since Mirror Group chief executive John Allwood took over from David Montgomery in January.
Selling Live TV was part of Allwood's plan to rid Mirror Group of its non-core assets. The company recently sold its 18.6 per cent stake in Scottish Media Group recently sold to the Granada Group for £110 million.
For the deal to go through, Flextech needs the go-ahead from all the cable television companies. However, it is an attractive deal to the cable companies as it would give cable an edge in its battle against the BSkyB satellite system, which is currently readying its own interactive television service, Open, for launch.