NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

UK's Channel 4 sale to be 're-examined', minister says

Published 20/09/2022, 12:07
© Reuters. FILE PHOTO: A man walks by Channel 4 Television studios in London, after the government decided to privatise the publicly-owned broadcaster, in London, Britain, April 5, 2022. REUTERS/Tom Nicholson
AMZN
-
ITV
-
NFLX
-

LONDON (Reuters) - Britain's new culture minister, Michelle Donelan, said on Tuesday she was re-examining the case for selling Channel 4, raising the possibility that a plan to privatise the publicly-owned broadcaster could be scrapped.

"We are looking especially at the business case for the sale of Channel 4 and making sure that we still agree with that decision," she told BBC radio.

The sale of the broadcaster, which is funded by advertising and receives no public money, was announced by former prime minister Boris Johnson's government in April.

It said a sale, possibly to a U.S. media giant, would help the broadcaster thrive against newer competitors like Netflix and Amazon.

© Reuters. FILE PHOTO: A man walks by Channel 4 Television studios in London, after the government decided to privatise the publicly-owned broadcaster, in London, Britain, April 5, 2022. REUTERS/Tom Nicholson

The broadcaster's management, lawmakers across parliament and television grandees strongly opposed the move, saying it would jeopardise Channel 4's distinctive programming.

Channel 4 was created by Conservative former prime minister Margaret Thatcher's government in the 1980s to deliver an edgy alternative to the BBC and ITV (LON:ITV), with a focus on under-served audiences.

 

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.