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AlfaTV, funded by political and religious backers, goes bankrupt

The television channel was aimed at the over-40 demographic and tried to offer an alternative to Finland's main networks.

AlfaTV filed for bankruptcy in the Eastern Uusimaa court on Friday. Image: Kati Latva-Teikari / Yle
Yle News

Brilliance Communications, the parent company of the AlfaTV channel in Finland, has filed for bankruptcy at the Eastern Uusimaa District Court on Friday, the company said in a press release. In the statement, the company said that AlfaTV would cease to operate. 

The press release stated that negotiations to keep the company afloat have concluded and failed. Brilliance Communications said that the company is insolvent and does not have the means to apply for restructuring. 

In early June, Brilliance Communications announced that it had run out of equity capital. In September, the company entered into restructuring negotiations. At the beginning of November a debt collection agency was reported to be syphoning off 28,600 euros in claims against the company. 

In 2021, the company made losses of more than 3 million euros on a turnover of 2 million euros. It organised two share issues in the same year.

Last year, the owner company Brilliance Communications organised private investing. The company received money from the media group Keskisuomalainen, MP and entrepreneur Hjallis Harkimo (MN), MP Eero Lehti (NCP) and Hesburger founder Heikki Salmela, among others.

Alfa TV's director Hannu Haukka has previously stated that the channel received six million euros from Canadian religious donor Ted Hilton for the construction of the channel's studio, completed in 2019. 

In addition to Finnish Schlager music and programmes aimed at people over 40 years old, AlfaTV aimed to significantly broaden the offering of news services in Finland by offering an alternative to the national TV channels.

Brilliance communications is mainly owned by the media broadcasting organisation IRR-TV and AlfaTV has also regularly broadcast Christian programmes. 

AlfaTV had more than 30 employees. The licence for the channel and its HD version is valid until the beginning of January 2027.

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