[cma-l] Sheffield TV channel hits launch funding target

[terry mechan]

Well Done

Good Luck


-----Original Message----- 
From: Steve Buckley
Sent: Friday, August 15, 2014 11:16 AM
To: cma-l at commedia.org.uk
Subject: [cma-l] Sheffield TV channel hits launch funding target

http://www.sheffieldlive.org/tv-channel-hits-launch-funding-target/

Sheffield Live TV, the local television channel
for Sheffield, has achieved its launch
fundraising target – with over 100 supporters
applying to become “community shareholders”.

Sheffield Community Media Ltd, a new community
benefit society which owns Sheffield Live TV, has
raised £160,000 through community shares and
social investment commitments: nearly £10,000 more than its target.

The crowdfunding initiative to put Sheffield’s
local TV channel into community ownership is the
first of its kind in the UK media sector enabling
Sheffield people, businesses and voluntary
organisations to participate as investors in a
society to support local community media.

In the last 7 days of fundraising, nearly £20,000
was generated, taking the campaign over the
target it needed to achieve by 14 August. Over
100 individuals, businesses and voluntary
organisations have each applied for between £100
and £20,000 worth of community shares. The cash
will be used to purchase equipment and complete
studio facilities for public access and
independent production. Sheffield Community Media
intends to pay its community shareholders a modest rate of interest.

The new TV channel will broadcast on Freeview
Channel 8, Virgin Cable, and the internet. Once
on air, from 23 September, it will benefit from
revenue via a contract to supply news to the BBC
– as well as local and national advertising and
sponsorship. The channel will collaborate with
existing community radio station, Sheffield
Live!, which has been broadcasting via FM for nearly seven years.

Sheffield Live TV will broadcast news about
Sheffield alongside programmes covering Sheffield
music, sport, culture and much more. It promises
unique, high quality content, “Made in Sheffield,
Made by you.” A flagship daily news programme
will cover Sheffield news in depth while other
programmes will cover Sheffield’s “rich, varied,
and diverse”  music, events, culture, arts, and sports.

Steve Buckley, the Chair of the new TV channel
and a director of Sheffield Community Media, said:

“We are delighted that so many Sheffield people
and organisations have shown their support for
Sheffield Live TV and community-owned media by
applying for community shares. We’d like to thank
them for their support and we look forward to
their involvement in the channel.  We are in the
final phase of our planning to launch Sheffield
Live TV which will be locally owned and run for
community benefit.  We aim to develop a
multimedia news service and to deliver original,
locally-made programming, reflecting the
interests and talent of Sheffield people and communities.”

Further information

Sheffield Community Media Ltd has raised £90,000
in community share applications and pledges from
114 individuals and businesses and a further
£70,000 in social investment loans from the Key
Fund, a community development finance institution.

Sheffield Community Media Ltd is a society for
the benefit of the community incorporated under
the Industrial and Provident Societies Act 1965.
Registered with the Financial Conduct Authority.
Registration No: 31727R. Registered address: 15
Paternoster Row, Sheffield, S1 2BX


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