British government plans to sell Channel 4 to Netflix

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British government plans to sell Channel 4 to Netflix

LONDON Reuters - Channel 4, Britain's commercially funded broadcaster, will be able to access more money to compete with streaming giants Amazon and Netflix under private ownership, Culture Secretary Oliver Dowden will say on Wednesday.

com world uk british Government Plans-sale - broadcaster-channel - 4 - 2021 - 06- 22 it was planning to sell the broadcaster which was launched nearly 39 years ago as an edgy alternative to BBC and ITV. The consultation closed on Tuesday.

Channel 4 has criticised the move. Its chairman told the Guardian in July that the government was in danger of sleepwalking into irreversible and risky sale of an important British institution Dowden, however, will announce it on Wednesday he is concerned about its long-term future.

I believe that if Channel 4 wants to grow then it will need cash at some point in the future, he will tell the Royal Television Society Convention, according to excerpts from his speech.

Without it, Channel 4 won't have the money to invest in technology and programming and it won't be able to compete with streaming giants. Channel 4, which broadcast the AID drama It's A Sin this year, has a remit to provide challenging and unusual programming for audiences under-served by other broadcasters.

Instead of making programmes, it commissions them from production companies, helping sustain Britain's successful independent TV sector.

This month, Channel 4 said research by Ernst Young showed that removing its unique business publisher-subscriber model could result in a 2 billion pound $2.3 billion reduction in its contribution to the creative economy over 10 years.

Dowden will say that Channel 4's public service remit will not be watered down.

If we are going to proceed with a sale, I will make sure it remains subject of proper public service obligations, he will say, adding that this would cover a commitment to commissioning programming from independents.