Bid TV and sister channel Price Drop TV were suddenly closed down on the afternoon of 17th April 2014, following months of mounting financial pressure. KPMG were appointed administrators and all staff lost their jobs.
Within months, the channel's lucrative Sky EPG slots had been sold, but it wasn't until February 2015 before the IP, patents, brands and domains of Bid TV's former parent company Sit-up Ltd were acquired by internet entrepreneur Grant Miller, who also bought the remnants of the Daily Sport newspaper back in 2011. He wants to re-launch the service initially online and then later via TV, but no timescales have been publicly announced at this stage.
The channel's Twitter account recently came back to life confirming the news:
#MajorAnnouncement we're under new ownership and will be re-launching shortly!— Bid TV (@bidtv) September 1, 2015
Meanwhile, Bid TV's London studios were taken over by Lean Forward Ltd, operated by former Sit-Up TV executives, who until recently used the former studio for late night gambling service Win Cash Live, which was broadcast on STV and some local TV channels until late last month. Many of the presenters on the channel have now secured jobs on other channels.