TIMES.KY

Cayman Islands, Caribbeanand International News
Thursday, Feb 02, 2023

Government expected to sell Channel 4 as public ownership is 'holding it back'

Government expected to sell Channel 4 as public ownership is 'holding it back'

Ministers have decided after a consultation to go ahead with a sale though the broadcaster said it was disappointed with the decision and Labour described the move as "vandalism".
The government has decided to push ahead with plans to privatise Channel 4, the culture secretary has confirmed.

Nadine Dorries said she had concluded "that government ownership is holding Channel 4 back from competing against streaming giants like Netflix and Amazon".

A spokesperson for Channel 4 said it was "disappointed" with the decision but would "continue to engage" with the government on the process to "ensure that Channel 4 continues to play its unique part in Britain's creative ecology and national life".

The government has been pushing the idea of privatising Channel 4 in recent months.

Confirming the sale, Ms Dorries said: "A change of ownership will give Channel 4 the tools and freedom to flourish and thrive as a public service broadcaster long into the future."

She said plans for the broadcaster's future would be set out in a white paper.

"I will seek to reinvest the proceeds of the sale into levelling up the creative sector, putting money into independent production and creative skills in priority parts of the country - delivering a creative dividend for all," Ms Dorries said.

The broadcaster is state-owned but receives no public funding, with more than 90% of its revenue coming from adverts.

Labour's shadow culture secretary Lucy Powell said: "Selling off Channel 4, which doesn't cost the taxpayer a penny anyway, to what is likely to be a foreign company, is cultural vandalism."

A government source said: "C4 is a great business with a strong brand built around it being creative, innovative and distinctive but a change of ownership will remove its straitjacket, giving C4 the freedom to innovate and grow so it can flourish and thrive long into the future and support the whole of the UK creative industries."

Channel 4 will remain a public service broadcaster and the government will ensure it "continues to make an important social, economic and cultural contribution to the UK" including a commitment to prime time news.

Ministers are understood to believe that in order to compete with the increasing power of US streaming giants such as Netflix, it must have more freedom to borrow money or raise private sector capital to be able to invest.

Channel 4 said: "With over 60,000 submissions to the government's public consultation, it is disappointing that today's announcement has been made without formally recognising the significant public interest concerns which have been raised.

"The proposal to privatise Channel 4 will require a lengthy legislative process and political debate.

"We will of course continue to engage with DCMS (Department for Digital, Culture, Media and Sport), government and parliament, and do everything we can to ensure that Channel 4 continues to play its unique part in Britain's creative ecology and national life."
Newsletter

Related Articles

TIMES.KY
Close
0:00
0:00
WARNING GRAPHIC CONTENT - US Memphis Police murdering innocent Tyre Nichols
Almost 30% of professionals say they've tried ChatGPT at work
Interpol seeks woman who ran elaborate exam cheating scam in Singapore
What is ChatGPT?
Bill Gates is ‘very optimistic’ about the future: ‘Better to be born 20 years from now...than any time in the past’
Tesla reported record profits and record revenues for 2022
Prince Andrew and Virginia Giuffre Photo Is Fake: Ghislaine Maxwell
Opinion | Israel’s Supreme Court Claims a Veto on Democracy
Moonwalker Buzz Aldrin Gets Married On His 93rd Birthday
Who’s Threatening Israeli Democracy?
Federal Reserve Probes Goldman’s Consumer Business
China's first population drop in six decades
Microsoft is finalising plans to become the latest technology giant to reduce its workforce during a global economic slowdown
China's foreign ministry branch in Hong Kong urges British gov't to stop the biased and double standards Hong Kong report
Tesla slashes prices globally by as much as 20 percent
1.4 Million Copies Of Prince Harry's Memoir 'Spare' Sold On 1st Day In UK
After Failing To Pay Office Rent, Twitter May Sell User Names
Lisa Marie Presley, singer and daughter of Elvis, dies aged 54
FIFA president questioned by prosecutors
Britain's Sunak breaks silence and admits using private healthcare
Hype and backlash as Harry's memoir goes on sale. Unnamed royal source says prince 'kidnapped by cult of psychotherapy and Meghan'
Saudi Arabia set to overtake India as fastest-growing major economy this year 
Google and Facebook’s dominance in digital ads challenged by rapid ascent of Amazon and TikTok
FTX fraud investigators are digging deeper into Sam Bankman-Fried's inner circle – and reportedly have ex-engineer Nishad Singh in their sights
TikTok CEO Plans to Meet European Union Regulators
UK chaos: Hong Kong emigrants duped by false prospectus
France has banned the online sale of paracetamol until February, citing ongoing supply issues
Japan reportedly to give families 1 million yen per child to move out of Tokyo
Will Canada ever become a real democracy?
Hong Kong property brokerages slash payrolls in choppy market
U.S. Moves to Seize Robinhood Shares, Silvergate Accounts Tied to FTX
Effect of EU sanctions on Moscow is ‘less than zero’ – Belgian MEP
Coinbase to Pay $100 Million in Settlement With New York Regulator
FTX assets worth $3.5bn held by Bahamas securities regulator
A Republican congressman-elect is under investigation in New York after he admitted he lied about his education and work experience.
Brazilian football legend Pele, arguably the greatest player ever, has died at the age of 82.
Hong Kong to scrap almost all its Covid rules
EU calls screening of travellers from China unjustified
US imposes Covid testing for visitors from China
Ukraine President Volodymyr Zelenskyy Addresses Joint Session of Congress - FULL SPEECH
If a country is denied the right to independence by another, it is not in a union. It is in a dictatorship.
Where is Rishi? Chancellor Jeremy Hunt's excuses about the UK's economic challenges just don't make sense
Former FTX CEO Bankman-Fried finally arrested in Bahamas after U.S. files charges
Corruption works: House Financial Services Chair Waters doesn't plan to subpoena her donor, Sam Bankman-Fried, to testify at hearing on FTX collapse
Ronaldo's new contract...
Prince William's godmother resigns honorary royal role after exposing her/their racism
British PM Rishi Sunak pledges further action on strikes to 'protect lives'
Tax fraud verdict again exposes illusion of Trump the master businessman
Tax fraud verdict again exposes illusion of Trump the master businessman.
Double standards: UK lawmakers attack EU chief over Ireland claims
×