(Reuters) – U.S.-based broadcaster Discovery (NASDAQ:DISCA) Inc is holding informal discussions about a potential takeover bid for Britain’s state-owned Channel 4 television broadcaster, The Telegraph reported on Saturday.
The potential bid process is being managed by UK Government Investments, the paper reported https://www.telegraph.co.uk/business/2021/07/31/olympics-broadcaster-lines-bid-channel-4, adding that a deal was not expected to be completed until the middle of next year.
Discovery did not immediately respond to a request for comment.
Britain’s government on July 6 announced a consultation on the sale of Channel 4, and it was considering changes to the operating model of the broadcaster, including its ownership, remit and obligations.
The advertising-funded Channel 4, whose hit shows include “The Great British Bake Off,” was set up with a remit to provide challenging and distinctive programming for audiences under-served by traditional broadcasters.
In its 2020 annual report, Channel 4 said its revenues were 934 million pounds, down 5% from 2019, with a pre-tax surplus of 74 million pounds, the highest in its 38-year history. Viewing share for its TV channel portfolio rose 2% to 10.1%, its first year-on-year increase since 2011. It set a target of doubling viewing by 2025.
Discovery exploring takeover bid for UK’s Channel 4 – The Telegraph
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.