Pan-Asian pay-television broadcaster Goal TV, which is owned by Hong-Kong based Yes TV, has commenced liquidation proceedings.
TV Sports Markets understands that a letter was sent to creditors of the broadcaster on July 3 informing them of the decision.
The troubled broadcaster had been showing a mixture of European football, mostly from second-tier leagues, and content from the television channels of European football clubs until last month.
A general meeting of the company has been called for July 17 at which a resolution for voluntary winding up is to be proposed.
A meeting of the company's creditors will be held on the same day to ratify the appointment of the liquidator.
Goal TV had at least 13 major creditors as of July 8.