Bust Sports Media Group calls in administrators

Sports Media Group has gone into administration, with the Daily Sport and Sunday Sport today ceased publication.

A statement from the group said, due to an “inability to meet certain creditors as they fall due”, it had ceased trading with immediate effect.

Having suspended trading in its shares this morning "pending clarification of its financial position", Sport Media Group is now in the process of appointing administrators.

The Sunday Sport was in its 25th year while the Daily Sport was in its 20th, but the group had experienced pressure on its cashflow since the adverse weather conditions at end of 2010 and failed to recover.

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