Subtitling and content management services facility ITFC has been put up for sale after its holding company appointed an administrator.

Grant Thornton has been put in charge of dealing with the interests of ITFC Holdings, which owns the shares in the former ITV division and is part of the US-based Medici Group.

Grant Thornton declined to comment, but Broadcast understands that the jobs of all 150 staff are safe and that the business will continue as usual while a buyer is found.

ITFC was founded in 1976 as an in-house film storage facility for ITV. It provides digital media asset management, subtitling, audio description, telecine restoration, authoring, encoding, conversion and duplication services.

It has contracts with ITV, Virgin Media and Five, and is currently preparing material in high definition for Five HD (Neighbours, pictured).

ITV sold ITFC to Elektrofilm, a wholly owned subsidiary of the Medici Group, in 2007.