In 1963, the first demonstration of a home video recorder was made at the BBC News Studios in London. A Telcan fixed-head longitudinal videotape recorder intended for home-taping of television programmes was demonstrated on BBC television news. The open-reel recorder was mounted on the top of a television cabinet. Developed by Norman Rutherford and Michael Turner of Nottingham Electronic Valve Company (NEVC), the machine used quarter-inch tape running at 120 ips (10 feet/sec) past fixed heads, carrying two low-resolution black and white 15-minute tracks. The intended price was £61 19s (£61.90). It never went on sale. Both Telcan and NEVC collapsed.