The consortium was made up of producer Maurice Winnick, newspaper publisher Lord Kemsley, and the owner of Great Universal Stores, Isaac Wolfson.
Their general manager was John McMillan, formerly Chief Assistant on the BBC's Light Programme.
In October 1954, the ITA announced that Kemsley-Winnick had been successful in obtaining the initial franchises for weekend television in the North and the Midlands.
The company collapsed in 1955, shortly after the award of the contracts, when Lord Kemsley's concerns about the potential financial exposure led to him withdrawing from the consortium.
The departure of so many senior figures led the ITA to declare the company was now different to that which submitted the bid, and they re-advertised the contract.