Video Music Channel The Tube Closes Its Doors
October 3, 2007 at 5:47 AM (PT)
The plug has been pulled on THE TUBE: FT. LAUDERDALE-based TUBE MUSIC NETWORK was the creation of MTV and VH1 co-founder LES GARLAND. It aired on enough digital broadcast channels and cable channels to reach 71% of the U.S. population, but ratings in this new medium were hard to measure and adverting was scant.
"Viewers, artists, music companies, investors, business partners, TV stations, cable companies, advertisers, friends and our creative partners @RADICAL MEDIA -- your support of THE TUBE has always been highly valued and appreciated," the company wrote on its wbsite. "The collective efforts of this team, fueled by the letters we received from viewers, sustained THE TUBE as it struggled through the financial limitations that ultimately contributed to its incapacitated state."
The channels aired on the digital subchannels of several stations owned by TRIBUNE CO. and RAYCOM MEDIA, including KTLA (TV)/LOS ANGELES, WPHL-TV (MY PHL 17)/PHILADELPHIA, and WBZL-TV/MIAMI, among many others. The channel was also carried by several cable systems as part of their carriage of the primary stations' digital signals.
While the company has not filed in bankruptcy court as of MONDAY (10/1), it is facing lawsuits that aim to become class actions on behalf of investors. BOCA RATON-based attorney KENNETH VIANALE said TUBE MEDIA and its former executives, including GARLAND, misled investors on its financial statements and Securities and Exchange Commission filings.