The way things are going the only station not to go bust would be STV Glasgow and Edinburgh.
Funny how that's a Station backed by something bigger...STV, the Channel 3 franchise for Scotland. London Live could still potentially work too, if it found it's real audience. As I said last night you need something bigger to back you up if you're gonna stand a chance.
Another blow to my home City's proud Broadcasting heritage.
Having deep pockets does work. Remember the days of Local TV on Cable TV, Local TV on L!VE TV, pretty much dire, I'm amazed that some of the channels lasted as long as they did, but they did have an audience somewhere, but the budgets were about 50p and they made about half an hour a week on loop in terms of the Cable channels.
For those who might not be aware, Manchester used to have a Local TV station called Channel M, which at it's peak was owned by the Guardian Media Group, which at that time (2005-9) still owned and had the resources of the Manchester Evening News and the Radio Stations that GMG owned, mainly Real and Smooth. They also had the backing of the Canadian giant CHUM who let Channel M use the 'CityTV' format.
The content of the channel at it's peak was News lead, there was News between 6-9am, 12-1pm, 5-7pm and 9-10pm, granted the majority of it was the same story over and over again, but with the exception of the odd half hour here and there it was near enough all live, and the coverage they did was just as good as the BBC or ITV. Granted the pace of the studio based News programmes were a bit slow, but they were watchable and did the job. Many of the presenters and reporters from the station have also appeared on BBC and ITV in the region.
All of the non-News content (again at the stations peak) was all locally made, the majority of the shows were either lifestyle, Frank Sidebottom, music and sport, the latter two being quite important to a city like Manchester, Anthony Wilson also fronted a music series that only lasted one episode, it was cut short due to his illness.
The channel was heavily promoted in the Manchester Evening News and got its listings published in the TV Guide each day. The reason why the channel ended up closing was that the Guardian had losses and wanted to sell up the MEN (which was sold to the Mirror Group) and the radio stations (sold to Global), basically no one wanted Channel M. By the time they got a Freeview slot in 2010 it was too late for any last chances.
I do believe that if they did get their Freeview slot earlier (although they were on Sky and Virgin at this point) and that the Guardian hadn't sold everything off the station would have been a success story for Local TV. I would like to think that Local TV can be a viable business, but it's going to need deep pockets and big names. I do believe that London Live will probably survive (sorry about the rhyming), as I do believe the STV stations, and major cities that aren't served that well by the BBC and ITV, Liverpool being a good example where I believe it will survive, but I guess only time will tell.