Integration specialist Megahertz Broadcast Systems Ltd (MHz) has been bought by the UK arm of Russian integrator OKNO-TV. The sale was announced on 14 October, the same day Megahertz was put into administration. Under the deal OKNO-TV (UK) has acquired the business and assets of Megahertz, saving the jobs of all 25 employees.
Megahertz has been in the systems integration business for 25 years, installing technical equipment in outside broadcast trucks and TV studios both in the UK and round the world. A recent high profile contract in Britain was the technical installation at BT Sport’s new studio complex in east London (pictured). Company executives have estimated that 66% of Megahertz contracts are outside the UK; installations include an earth station for BT in Poland and two in South Africa for ETV in Cape Town and Johannesburg.
In recent years Megahertz has been owned by US technology group Piksel, previously trading as KIT Digital. The company’s administration was handled by Baker Tilly Restructuring and Recovery, working with solicitors Bond Dickinson. The business and assets of Megahertz were bought out of administration by OKNO-TV (UK), a subsidiary of Moscow-based OKNO-TV, which has been supplying and installing equipment in broadcast centres in Russia and neighbouring countries for over 20 years.
Adrian Allen, a partner at Baker Tilly Restructuring and Recovery, commented, “We believe this deal represents the best outcome for creditors. It has safeguarded the jobs of 25 people and ensures a continuity of supply to some of the world’s leading broadcasters.” A Baker Tilly spokesman confirmed to PSNEurope that Megahertz went into administration on 14 October and that further details on that process and creditors will be made public “in due course”.
Jon Flay, managing director of OKNO-TV (UK), said, “The acquisition of Megahertz gives us an immediate in-house capability, with a team of highly respected engineers and project managers that will help to facilitate the expansion of our portfolio to include production vehicles and RF capabilities and to extend our footprint globally.”