It appears that Telkom Media, which was widely tipped as the company that would bring competition to the Pay-TV market, is set to close its doors.
Business Report today speculates that, since a new majority shareholder has not yet been found for the company, it is in danger of shutting down.
Telkom owns 66% of the company, but announced last year that it wished to shed its shareholding. Talks with Chinese company Shenzen Media are said to have collapsed.
Business Report adds that Telkom Media's staff complement is believed to have shrunk to half its previous 379.
It believes shareholders will meet soon to discuss whether to wind the company up.