TechCentral reports that would-be pay-TV operator Super 5 Media (formerly Telkom Media before Telkom sold its share to Shenzen Media SA) has retrenched its full staff complement of more than 40 people. It is facing the prospect of a liquidation order lodged by international investment advisory company Rothschild, which claims it is owed in the region of R25m.
Additionally it is reported that Super 5 Media has not kept up with its lease payments of its Sandton premises.
The company has also reportedly been subject to senior management problems between Shenzhen Media’s Philip Xiao and Super 5 Media director and shareholder, Tian du Pisanie. Meanwhile it has repeatedly postponed its launch.
Super 5 Media has until Friday, 6 August to pay its debt to Rothschild.