The British government has decided to sell Channel 4, the publicly-owned but commercially funded broadcaster founded nearly 40 years ago as an edgy alternative to the BBC and ITV, the company said on Monday. (Reuters)
Government officials said the commercially funded but state-owned broadcaster was expected to be put up for bids by the end of 2023, in a move that could raise more than £1 billion. (FT)
Money made from the sale will be reinvested in a “creative dividend” to be shared among the TV industry, with some of it earmarked for independent production companies. (BBC News)
The channel is run on a commercial basis and carries adverts but reinvests all of its profits into making new programs. Its current leadership has argued that a new private sector owner would instead seek to maximize profits at the expense of original and distinctively British programming. (The Guardian)