Latin Television throws in towel.

According to Television Business Report, Latin Television Inc., a penny stock company based in Coral Springs, FL, is throwing in the towel.

The company says it will sell off all of its broadcasting assets and instead focus on “the growing market for sports publications.” Blaming the costs of converting from analog to digital and the “capital intensive changes” to produce programming in HD, Latin TV says its shareholders have approved a plan to sell off its broadcast equipment and intellectual property and refocus on sports publications.

The company said it has already been in talks with the management of some operating sports publications.

Courtesy of < http://www.rbr.com