Energy drinks brand Red Bull has performed a u-turn by scrapping plans to close down its commercial broadcaster, Servus TV.
The Salzburg-headquartered broadcaster is operated by the Red Bull Media House division of Red Bull.
As reported by TV Sports Markets, Red Bull announced on Tuesday that the broadcaster would be shut down as it had apparently “become economically unsustainable”.
The closure of Servus TV, which has key sports rights in its portfolio, would have put about 260 jobs at risk. However, Red Bull has now confirmed the platform will remain operational.
Reports have claimed that a rethink over the establishment of a workers’ council at the company may have led to the change of heart, while other reports have suggested that the episode may have been a publicity stunt.
Servus TV holds various sports rights in its portfolio, such as Austria’s Eishockey Liga, the top division of ice hockey in the country, and the MotoGP, Moto2 and Moto3 motorcycling championships.