Orange Sports to close in 2012 if not sold

France Télécom CEO Stéphane Richard has warned that the digital channel Orange Sports will close in 2012 if a buyer has not been found before then.

Interviewed by daily Le Parisien, Richard conceded that looking for buyers was a difficult task owing to Orange Sports’ cumulated losses. “When a channel loses €200M each year, it [is] quite logical [that] potential buyers do not queue,” he was quoted as saying.

However, Richard also revealed that “the door is not closed” with possible purchaser the French Football League and that “possibilities” have arisen from TF1 and Canal+.

(Source: Rapid TV News )