After TVS lost its franchise to broadcast on the ITV network to Meridian Broadcasting, a number of American companies (and to a lesser extent, Meridian) were interested in acquiring it, with Pat Robertson's International Family Entertainment making the first offer. A small number of shareholders, including Julian Tregar, rejected the offer from IFE. In November, TCW Capital made a bid, but withdrew it a few weeks later after reviewing the accounts of TVS. IFE increased its offer to £45.3M, but continued to be opposed by Julian Tregar, who blocked the deal on technical grounds, alleging that the offer was too low. IFE finally increased the offer to appease the remaining shareholders, and on January 23, 1993 their offer of £56.5M was finally accepted. The deal went into effect on February 1, 1993 (the month after Meridian began its first broadcast).