ITV and Michael Grade eye Channel 4 takeover

Asia's Tech News Daily

ITV and Michael Grade eye Channel 4 takeover
© Provided by City AM

The former chief executive of Channel 4 Lord Grade and ITV are reportedly mulling takeover bids amid government plans to privatise the network.

Lord Grade, who was at the helm of Channel 4 between 1988 and 1997 and also chaired the BBC and ITV, is considering snapping up the network The Times first reported.

Earlier this month Lord Grade, who is on a panel advising ministers on the future of public service broadcasting, urged a House of Lords committee to shake up the channel’s ownership saying “the status quo is not an option.”

“The time to change the nature of Channel 4 is now, before it falls over, before it succumbs to the inevitable decline,” he said, warning that the network behind The Great British Bake Off is “in a straitjacket of regulation and statutes that completely prevent it from taking advantage of what it has achieved so far.”

The government is consulting on the privatisation of Channel 4 which is understood to be its preferred option and with peers in the process of investigating the network’s remit and ownership through an inquiry. Ministers have appointed JP Morgan to provide corporate finance advice on Channel 4’s potential change in ownership.

ITV is expected to throw its hat into the ring if the government pushes ahead with a sale and Sky, now owned by US media giant Comcast, may also make a bid according to The Times. At least one US private equity firm has sounded out advisers in London.

According to industry experts Channel 4, which last year generated revenues of £934m with a pre-tax profit of £74m, is valued at approximately £500m.

The lion’s share of the youth oriented broadcaster’s income is from advertising, but the company is facing tough competition from streaming rivals such as Netflix, Amazon Prime and Youtube, which are increasingly attracting younger audiences.

The network’s current chief executive Alex Mahon is against privatisation and has warned that shifting to a for-profit model would harm Channel 4’s ability to support independent producers.

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Emmerdale's Amy Walsh reveals pregnancy pelvic girdle pain left her unable to walk

Amy Walsh is overjoyed to be welcoming her first child with her partner Toby-Alexander Smith after convincing herself she may never have been able to have children. In an exclusive ... Read more »

Ash portal can scale skyscrapers on World's Edge in Apex Legends

© Provided by Dot Esports When Ash was introduced to Apex Legends, the game welcomed yet another legend with a powerful rotation ability: her ultimate, Phase Breach. The one-way portal ... Read more »

Voices: I was forced to trust people smugglers because there's no safe route for refugees

We left in the boat around midnight. We were around 16 adults and two kids, and there wasn’t space to move. © PA Wire ‘After about half an hour after ... Read more »

Bank of England could delay rate hike on Omicron Covid variant fears

© Provided by This Is Money MailOnline logo The emergence of the Omicron variant of Covid-19 has clouded the outlook for the Bank of England’s 16 December interest rate decision, ... Read more »

Jack Dorsey is stepping down as CEO of Twitter

Jack Dorsey, the cofounder and public face of Twitter, will step down from his role as CEO, effective immediately, the company announced Monday. Dorsey will remain a member of Twitter’s ... Read more »

It's Cyber Monday! Shop the 45 top sales & offer codes: Nordstrom, Sephora & more

© Provided by Hello! top cyber monday sales usa 2021 nordstrom to sephora Cyber Monday is one of the biggest online sales events of the year – and we’re here ... Read more »

Critical Role: Vox Machina - Kith and Kin review: A dexterous fantasy epic

© PENGUIN RANDOM HOUSE Kith and Kin review Critial Role are slowly but surely creeping their way into every type of media available. On top of their weekly live Dungeons ... Read more »

Colton Underwood 'didn't want to be gay'

© Bang Showbiz Colton Underwood came out in April Colton Underwood “didn’t want to be gay”. The former ‘Bachelor’ star revealed his sexuality during a sit-down interview on ‘Good Morning ... Read more »

Barbie Imperial slams AJ Raval for not speaking up after being linked to Diego Loyzaga

© Provided by PEP.ph Nagpakawala ng maaanghang na pahayag si Barbie Imperial, 23, laban sa sexy star na si AJ Raval, 21. May kinalaman ito sa pagli-link kay AJ sa ... Read more »

Fournette leads Bucs past Colts

© The Manila Times Michael Pittman (right) of the Indianapolis Colts carries the ball as Jordan Whitehead of the Tampa Bay Buccaneers defends in the first half of the game ... Read more »

Twitter boss Jack Dorsey steps down with immediate effect

© Provided by Extra.ie Jack Dorsey has stepped down as the boss of social media giant Twitter. Mr Dorsey will be replaced by chief technology officer Parag Agrawal, the company ... Read more »

Staff can't police mask wearing in shops, warns top supermarket boss

© PA Wire The wearing of face masks in shops and on public transport will be made compulsory from Tuesday – PA Wire Staff can’t be expected to police mask ... Read more »

Covid: 42,583 new cases and 35 deaths in latest daily figures

© Evening Standard es-breakingnews.jpg A further 42,583 new Covid cases have been recorded along with 35 deaths in the latest daily Covid figures. Monday’s new Covid cases are a fall ... Read more »

Royal Family: The board game the Queen banned at Christmas after competition became 'too vicious'

Christmas board games with the family are almost as traditional as the turkey itself, although it’s fair to say, much less enjoyable. The annual digging out of Cluedo, Moustetrap, or ... Read more »

The Samsung Galaxy Z Fold 3 is down 20% for Cyber Monday

© Expert Reviews The Samsung Galaxy Z Fold 3 is down 20% for Cyber Monday Mobile phones The Samsung Galaxy Z Fold 3 is an exciting glimpse into the (possible) ... Read more »

WestMinCom chief visits troops in Sulu

WESTERN Mindanao Command (WestMinCom) chief Maj. Gen. Alfredo Rosario Jr. visited the troops under Joint Task Force Sulu in Jolo, Sulu over the weekend. © The Manila Times SALUTE TO ... Read more »

Trump is back -- on the Bidens' Christmas tree

© ANDREW CABALLERO-REYNOLDS A picture of former US President Donald Trump hangs on a tree in the State Dining room during a press preview of the White House holiday decorations ... Read more »

Companies still cautious on impact of Omicron

(Reuters) – Companies were still cautious on Monday about the impact of the new Omicron virus on their businesses, with airlines saying they were not yet cancelling flights and automakers ... Read more »

China policy prevents 200M Covid-19 cases

© The Manila Times Medical staff wait to collect swab samples from residents for COVID-19 test in Qingdao, East China’s Shandong Province, October 14, 2020. XINHUA PHOTO BEIJING: China has ... Read more »

Matthew Wright says ITV might need to 'pull the plug' on I'm A Celeb

This Morning guest Matthew Wright said ITV might need to cancel the rest of this year’s I’m A Celebrity… Get Me Out Of Here! The 56 year old journalist suggested ... Read more »

Maskless Tory MPs come under fire as Omicron variant sees measures stepped up

© Andrew Matthews Face masks on display in a shop window (Andrew Matthews/PA) A group of Conservative MPs have continued to shun mask-wearing in the House of Commons, despite tougher ... Read more »

Nissan lays out $17.6 billion plan to electrify its future

Read more »

More women needed in sports leadership roles, says minister

© Andrew Matthews Sports Minister Jack Chambers has said women will need to make up 40% of the leadership of sporting organisations by 2023 and that gender quotas may be ... Read more »

‘Confronting': Great Barrier Reef faces frequent extreme coral bleaching at 2C heating, research finds

© Provided by The Guardian Photograph: Nature Picture Library/Alamy Parts of the Great Barrier Reef would be hit with extreme levels of coral bleaching five times each decade by the ... Read more »

Jennifer Lopez's new millennial pink Coach handbag has 40% off for Cyber Monday

© Provided by Hello! jlo-coach-bag Jennifer Lopez has bags of style and she also has LOTS of bags. That’s the perk of working with Coach, AND having every designer out there desperate ... Read more »

Ontario investigating four possible Omicron cases, offering testing to 375 travellers

TORONTO — Ontario is investigating four more possible cases of the Omicron COVID-19 variant of concern, and the province’s top doctor said it’s likely more will be detected after an ... Read more »

At 51, Padma Lakshmi's Abs And Legs Are Working Overtime In A New IG Workout Video

Padma Lakshmi, 51, just redefined #fitspo in a brand new Instagram video. The television host showed off her strong abs and legs while conquering a brutal circuit workout in the ... Read more »

Urteil des Bundesgerichtshofs: Kohls Witwe hat keinen Anspruch auf Millionen

Eine dem früheren deutschen Regierungschef Helmut Kohl einst zugesprochene Entschädigung von einer Million Euro fällt nicht an die Witwe des Altkanzlers. © Bereitgestellt von Blick ARCHIV – Maike Kohl-Richter steht ... Read more »

Latvia calls for permanent U.S. troops to guard against Russia threat

© Reuters/INTS KALNINS Latvian President Egils Levits meets NATO Secretary General Jens Stoltenberg, in Riga By Sabine Siebold ADAZI MILITARY BASE, Latvia (Reuters) – Latvia needs a permanent U.S. military ... Read more »

1,103 new COVID cases, 9 more deaths in Singapore

SINGAPORE — The Ministry of Health (MOH) on Monday (29 November) confirmed 1,103 new COVID-19 cases in Singapore – bringing the country’s total case count to 263,486 – as well ... Read more »

Read the letter Jack Dorsey sent to Twitter employees announcing his resignation as CEO

© Provided by Business Insider Jack Dorsey in 2017. Rolf Vennenbernd/picture alliance via Getty Images Jack Dorsey wrote a letter to employees detailing his resignation from his role as Twitter ... Read more »

Joyalukkas announces ‘Biggest sale of the year' for 5 Days!

© Provided by Khaleej Times John Paul Alukkas, managing director, International Operations, Joyalukkas Group. Joyalukkas, the world’s favourite jeweller, on Monday announced the ‘Biggest sale of the year’ on gold ... Read more »

Belarus announces military drills with Russia near Ukraine border

© Reuters/GLEB GARANICH FILE PHOTO: Members of the Ukrainian State Border Guard Service patrol along the Ukraine-Belarus border in Volyn region MOSCOW (Reuters) – Belarus on Monday announced joint military ... Read more »

This Salted Caramel and Pecan Pie Mash-Up is the Ultimate Holiday Dessert

© Provided by Delish There is no better duo than caramel and salt. Add those flavors to this year’s pecan pie and you’ve got a dessert that’s sure to be ... Read more »

Castro vows to pull Honduras 'out of the abyss' as first female president

© Reuters/JOSE CABEZAS FILE PHOTO: Xiomara Castro, presidential candidate of the Liberty and Refoundation Party (LIBRE) casts her vote in Catacamas By Gustavo Palencia TEGUCIGALPA (Reuters) – Honduras’ leftist politician ... Read more »

Love Arcane? Here's how to get into League of Legends lore

© Image: Netflix Netflix’s Arcane is a wildly stylish series, and every character is bursting with detail. While the setting of Zaun and Piltover is dense with characters and conflict, ... Read more »

Man who left daughters in Libya jailed again

A man who took his children from their mother and left them with relatives in Libya has been given another jail term after a judge concluded that he was again ... Read more »

Mouni Roy & boyfriend Suraj Nambiar to tie the knot in Italy on January 27: Report

© Provided by Pinkvilla Actress Mouni Roy usually keeps her personal life under wraps. She has reportedly been dating Suraj Nambiar since 2019. A recent report by ETimes states that ... Read more »

Alia Bhatt is literally fired up after seeing beautiful glimpses of Ranbir Kapoor from Brahmastra sets

It was just a few days ago when Pinkvilla exclusively learnt that Brahmastra is targeting a September 9, 2022 release. Now, on Monday, director Ayan Mukerji levelled up the excitement ... Read more »

BTS reveal they were 'very nervous and scared' to return for first outdoor concert in 2 years

© Provided by Pinkvilla BTS have opened up on performing amid a stadium crowd after such a long time! The Grammy-nominated artists had previously cancelled their 2020 US tour due ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic