Axe for Ventures in shake-up at C4

Jon Rees|Mail13 April 2012

CHANNEL 4 chief executive Andy Duncan will announce the restructuring of the TV station's commercial activities this week in a move that will see its 4 Ventures arm virtually dismantled.

Duncan is planning to bring most of the division's operations in-house to be run alongside the station's main TV business, Channel 4, which broadcasts hit shows such as Big Brother and The O.C.

The head of 4 Ventures, former investment banker Rob Woodward, has already been axed and will leave the company this week.

The commercial activities of 4 Ventures include the paid-for digital TV channels FilmFour and E4, as well as its commercial rights division, 4 Rights, which sells programmes overseas.

It employs about 300 staff and last year made an operating profit of £4m on turnover of about £139m. This was after posting a loss of about £18m in 2002.

There is a suggestion that 4Rights might be turned into a joint venture with the BBC.

Duncan will emphasise this week that Channel 4, which is publicly owned but commercially funded, is still committed to developing its commercial activities.

Since arriving at the station last year, Duncan has steered it away from a proposed merger with rival commercial broadcaster Five - formerly Channel 5 - and also indicated that the company will request public funding for the first time.

'This is not about withdrawing from commercial activities,' said a Channel 4 source.

'Andy has said he wants to strengthen the station's public service commitment, but we also want to maximise our commercial profitability.'

Duncan claims that the station faces a £100m funding shortfall within the next ten years as the number of new channels provided by the likes of Sky and NTL cuts into its market share.

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