Channel 4 set to be privatised as ministers back proposals

Channel 4 is set to be privatised after 40 years of under public ownership.

The bid process for the public broadcaster is set to commence by spring 2023. This will be followed by a sale in 2024.

Channel 4 said it was “disappointed” with the decision.

A source told the BBC, “Ministers have decided that, although Channel 4 as a business is currently performing well, government ownership is holding it back in the face of a rapidly changing and competitive media landscape.

“Channel 4 is a great business with a strong brand built around it being creative, innovative and distinctive, but a change of ownership will remove its straitjacket, giving Channel 4 the freedom to innovate and grow so it can flourish and thrive long into the future and support the whole of the UK creative industries.”

Channel 4, which launched in 1982, is funded by advertising but is publicly owned.