Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Sale will secure future of Britain's Channel 4, minister says

Stock Markets16 hours ago (Sep 15, 2021 19:07)
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
2/2 © Reuters. FILE PHOTO: People walk past the Channel 4 television channel offices in London, Britain, June 23, 2021. REUTERS/Toby Melville/File Photo 2/2

By Paul Sandle

CAMBRIDGE, England (Reuters) -Britain's Channel 4 will be able to access more money to compete with streaming giants Amazon (NASDAQ:AMZN) and Netflix (NASDAQ:NFLX) if it comes under private ownership, a minister said on Wednesday.

Britain's government said in June https://www.reuters.com/world/uk/british-government-plans-sale-broadcaster-channel-4-2021-06-22 it was planning to sell the publicly owned but commercially funded broadcaster, launched nearly 39 years ago as an edgy alternative to the BBC and ITV (LON:ITV).

"If Channel 4 wants to grow then at some point soon it will need cash. Without it, Channel 4 won't have the money to invest in technology and programming, and it won't be able to compete with the streaming giants," junior minister John Whittingdale told the Royal Television Society's Convention.

A consultation on the plan, which has been publicly criticised by Channel 4 itself, closed on Tuesday. Its chief executive Alex Mahon said there was no evidence to show that a privatised Channel 4 would be able to better fulfill its remit.

"There's no data and there's no evidence as yet that Channel 4 would have been more able to sustain that mission, (...) its delivery of social impact, its support of indies and the creative community in 10 years time if it was in private hands," Mahon said at the convention.

The consultation on privatising Channel 4 was launched by Oliver Dowden before he was replaced as culture minister by Nadine Dorries on Wednesday. His speech to the convention was delivered remotely by Whittingdale.

Channel 4, which broadcast the AIDs drama "It's a Sin" this year, has a remit to provide challenging and distinctive programming for audiences under-served by other broadcasters.

Rather than making programmes, it commissions them from production companies, helping sustain Britain's successful independent TV sector.

Channel 4 said this month that research by Ernst & Young showed that removing its unique publisher-broadcaster model could result in a 2 billion pound ($2.76 billion) reduction in its contribution to the creative economy over 10 years.

Whittingdale said its public service remit would remain.

"So if we do choose to proceed with a sale, I will make sure it remains subject to proper public service obligations," he said, adding that this would cover a commitment to commissioning programming from independents.

($1 = 0.7243 pound)

Sale will secure future of Britain's Channel 4, minister says
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Drake Richards
Drake Richards 16 hours ago
Saved. See Saved Items.
This comment has already been saved in your Saved Items
obsessed with race and *******culture...pull the plugs on it
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email