Connect with us

Hi, what are you looking for?

Stock

Discovery exploring takeover bid for UK’s Channel 4 – The Telegraph

Stock Markets55 minutes ago (Jul 31, 2021 06:15PM ET)

2/2
(C) Reuters. FILE PHOTO: A worker is seen taking an elevator at the Channel 4 television channel offices in London, Britain, June 23, 2021. REUTERS/Toby Melville

2/2

(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.

Rival UK broadcasters ITV (LON:ITV) Plc and Comcast (NASDAQ:CMCSA)’s Sky are also exploring a bid for Channel 4, Telegraph reported.

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

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

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.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Uncategorized

Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt.

Uncategorized

Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione.

Uncategorized

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum.

Uncategorized

Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora.

Disclaimer: Buzzclever.com it's managers and its employees (collectively "The Company") do not make any guarantee or warranty about what is advertised or above. Information provided by this website is for research purposes only and should not be considered as personalized financial or health advice. Copyright © 2021 Buzz Clever. All Rights Reserved