Channel 4 resist sale after hiring media bankers
Channel 4 has hired a team of top bankers as the broadcaster weighs up its options for the future.
As reported by Sky News, board directors recruited the wealth management firm Alvarium a few weeks back to draw up a blueprint of options for future finances.
Channel 4 is currently funded entirely by its own commercial activities, and most of its income derives from advertising revenue on its channels.
Alvarium’s involvement suggests some resistance from the board about an outright sale and insiders have said that the firm would help with upcoming talks with shareholders and stakeholders about the company’s next steps.
It comes as conversations continue around privatisation, which has caused some backlash within those in the production industry, who work heavily with the broadcaster on shows.
However, any decision about the future of the broadcaster would need to be made by Culture Secretary, Nadine Dorries, along with the Prime Minister’s approval.
Earlier this month, Ofcom announced the appointment of four new non-executive directors to the board, which included Sarah Sands OBE, the former editor of Radio 4’s Today programme, as well as Dawn Airey, former ITV and Sky executive.