Artsworld
In its early days, it was owned and managed by a private partnership (Artsworld Channels) including Sir Jeremy Isaacs. However, the channel suffered severe financial difficulty. In July 2002, it even staged its own farewell party, only to find emergency funding that very evening. In 2003, with a skeleton staff, it was facing closure. At this point, Sky stepped in, taking an initial 50% stake. Sky subsequently bought out the remaining shareholders (including Isaacs) and in 2005 took full control, reducing the staff further, and dropping the channel's premium subscription fee shortly afterwards.
Read more about this topic: Sky Arts