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Re: Channel 4 to be privatised
Unlikely, as the proposals were made over a month ago to Dorries…
https://www.ft.com/content/b897bf61-...a-dcf153eb3384
Quote:
Channel 4 proposed partnering with private investors to spend £200mn a year on British films and shows as part of an alternative plan to head off privatisation, according to documents shared with ministers.
The confidential blueprint presented in February to Nadine Dorries, culture secretary, set out a business case for the commercially funded, government-owned broadcaster to remain in public hands, based on the biggest overhaul of its model since it was founded in 1982.
Along with an injection of private capital, the plan seen by the Financial Times would have allowed Channel 4 to benefit from the secondary sale of rights to projects commissioned through the joint venture, a controversial evolution of its “publisher-broadcaster” model.
Alex Mahon, Channel 4’s chief executive, pitched the approach as a way for the broadcaster to raise investment while keeping a public ownership model that would increase its support for Britain’s creative economy, particularly outside London.
Dorries ultimately rejected Channel 4’s proposals this week, deciding to press ahead with legislation to enable the privatisation because government ownership was “holding back” the broadcaster from competing with Netflix and Amazon.
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Quote:
According to documents seen by the FT, Channel 4’s business plan sought to give the broadcaster access to private capital and debt, using a hybrid structure that it argued would keep the borrowing off the public sector balance sheet. The joint venture would be majority-owned by private investors.
Other elements of the plan included expanding the on-demand streaming service All 4 to international markets, doubling its staff presence outside London, and enshrining a commitment to direct at least half its spending to the UK’s nations and regions.
“Our alternative vision for Channel 4 would bring private capital into the business for the first time — outside of the public sector balance sheet — to enable greater content investment,” the broadcaster said in its paper to ministers.
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Last edited by Hugh; 10-04-2022 at 11:54.
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