Discovery is contemplating takeover supply for British Channel Four – The Telegraph


© Reuters. FILE PHOTO: A worker takes an elevator at the offices of Channel 4 television in London, United Kingdom on June 23, 2021. REUTERS / Toby Melville


(Reuters) – US broadcaster Discovery (NASDAQ 🙂 Inc is having informal talks about a possible takeover bid for British television broadcaster Channel 4, The Telegraph reported on Saturday.

The potential bid process is managed by UK Government Investments, the newspaper reported, adding that a The deal was not expected to be concluded until the middle of next year.

Discovery did not immediately respond to a request for comment.

The UK government announced a consultation on the sale of Channel 4 on July 6 and is considering changes to the channel's operating model, including its ownership, responsibilities and obligations.

Ad-financed Channel 4, whose hit shows include "The Great British Bake Off", was founded with the mission to deliver sophisticated and distinctive programming to an audience underserved by traditional broadcasters.

Rival British broadcaster ITV (LON 🙂 Plc and Sky from Comcast (NASDAQ 🙂 are also considering an offer for Channel 4, Telegraph reported.

In its 2020 annual report, Channel 4 said its revenue was £ 934 million, 5% less than 2019, with a pre-tax surplus of £ 74 million, the highest in its 38-year history. The audience share of his TV station portfolio rose by 2% to 10.1%, the first year-on-year increase since 2011. By 2025, the number of viewers is to double.

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