MCM Entertainment, former Live At The Chapel, Take 40 Australia producers liquidated
An entertainment company which produced some of Australia’s biggest radio shows and a famous concert series at a South Yarra venue has filed for liquidation. SEARCH OUR FULL LIST OF VICTORIAN BUSINESS INSOLVENCIES.
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An entertainment media company which previously produced some of Australia’s biggest radio shows and a famous intimate concert series is no more.
MCM Entertainment, which was behind the long-running, now-defunct nationwide radio shows Take 40 Australia and The Hot Hits, filed for liquidation on July 16.
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The company was founded by Tony McGinn in the 1980s and also previously managed the Australian arm of online video platform VEVO and other music content for radio, television and online.
It also created the Live At The Chapel concert series, which was filmed at South Yarra’s Chapel off Chapel in the 2000s and early 2010s.
The series featured intimate performances from local and international acts including the Foo Fighters, Coldplay, Wolfmother, Noel Gallagher and Nickelback.
Music mogul and Mushroom Group founder Michael Gudinski was a board member of the company when it tried to raise $3 million through a shares offer in 2007.
Southern Cross Austereo acquired MCM’s radio assets and management of VEVO in 2016.
The company then downsized to a small office in Richmond to focus on new audio and visual content opportunities for television and online.
MCM’s Liquidator Richard Rohrt, of insolvency firm Hamilton Murphy, said the company was “doing nothing” and had “simply outlived its purpose”.
Mr Rohrt said Mr McGinn was the company’s only remaining employee and he was working to secure a new buyer, as well as distribute remaining profits and capital back to its 300 shareholders.
“There’s nothing wrong with the company, it’s just come to the end of its life and is no longer trading,” Mr Rohrt said.
“It is in short, a perfectly profitable company that is no longer trading, and has no creditors or employee entitlements.
“We are currently looking for buyers, but we are somewhat hamstrung by COVID-19”.
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