The company closed the service, which had operating losses in the year to 4 October 2009 of £4m, 33% more than the year before, despite its licence running until 2014.

“In accepting a licence, the broadcaster takes account of the likely cost of the obligations under the licence, and the value of the benefits associated with the licence, for the duration of the licence period,” said Ofcom.

“In deciding to cease providing key elements of the service in December 2009, Teletext committed a serious breach of the obligations in the public teletext service licence such that the licence was revoked.”

Ofcom, which could have levied a fine of up to £500,000, said it had given “careful consideration to the written and oral representations” of DMGT in deciding the financial penalty.