TV

Discovery, Sky ‘set to bid for UK Channel 5′

Discovery Communications is exploring the possibility of teaming up with UK pay-TV network BSkyB in an attempt to acquire UK terrestrial broadcaster Channel 5, according to reports on both sides of the Atlantic.
February 24, 2014

Discovery Communications is exploring the possibility of teaming up with UK pay-TV network BSkyB in an attempt to acquire UK terrestrial broadcaster Channel 5 (C5), according to reports in The Wall Street Journal and The Financial Times.

C5 has set a deadline of February 27 for bids from potential new owners. The network was acquired by British businessman Richard Desmond from previous owner RTL for £103.5 million (US$172 million) in 2010.

Through a program of aggressive cost-cutting and layoffs, Desmond is largely perceived as having turned around the ailing network, and reports on both sides of the Atlantic suggest that the sale price being touted by C5 is in the £700 million (US$1.16 billion) range.

According to The Financial Times, a Discovery-Sky tie-up would see Sky taking over C5′s advertising sales operation. Both parties are declining to comment on the stories.

About The Author
Selina Chignall joins the realscreen team as a staff writer. Prior to working with rs, she covered lobbying activity at Hill Times Publishing. She also spent a year covering the Hill as a journalist with iPolitics. Her beat focused on youth, education, democratic reform, innovation and infrastructure. She holds a Master of Arts in Journalism from Western University and a Honours Bachelor of Arts from the University of Toronto.

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