Suffering from low ratings (the main channel projects,
Dengi series and
reality show Za steklom 3: Teper ty v armii failed) and poor advertising revenue, TVS had many financial problems. TVS's debt to
Vnesheconombank (the Bank for Foreign Economic Activity) came to about US$100 million. TVS also owed more than $6 million in back pay to employees, who had not been paid for some three months. Mostelekom (the city-owned cable operator that carried TVS in Moscow) began switching TVS' signal off Moscow's cable television networks on June 2, 2003, which rendered more than 90% of Moscow residents unable to view it. Mostelekom demanded that the TV company's shareholders pay off arrears of RUB 245,672m ($8 million). On June 17, 2003 TVS editor-in-chief
Evgeny Kiselyov announced that lack of funding had made it impossible for the company to continue operating, and that after June 23 the channel suspended broadcasting. Stating it was "for viewers' benefit" the Ministry of Press switched off all TVS broadcasts on June 22, 2003 – 24 hours before the shutdown planned by station management was to happen. Like the closure of TV-6 the year before, the regularly scheduled programming was suddenly interrupted by a brief announcement that the channel was "taken off the air" before switching to a test. It was widely speculated in the press that such a hurried closure was performed to prevent the final broadcast of
Evgeny Kiselyov's "Itogi" show, the only remaining opposition political broadcast at the time. Later MNVK allowed the state all-sports channel to broadcast on the vacant channel 6. At the same time, former TVS employees moved to work on other TV channels, both national and regional or international (Channel One, VGTRK - Russia, Kultura, Sport and Vesti, TV Center "," The third channel "," The Fifth channel ", REN-TV, TNT, STS, 7TV, RBK-TV," TV Stolitsa ", RTVi, Euronews), on the radio" Echo of Moscow Most of the channel's employees for several years or have completely left journalism. Some of the staff went to small production production studios that worked with broadcasters under a contract. Many programs aired on TVS (which closed both with the channel and before the events of June 22) were subsequently restarted at different times on other channels, both on the above and on some others (among them -
Domashny, DTV,
Bibigon (now
Karusel), Television Ladies' Club, Humor TV,
Disney Channel,
Twice Two). ==See also==