Saturday, 1 April, 2023

Channel 5 has been brought for £450 Million by Viacom!

Today it has been announced that US company, Viacom will buy Channel 5 in a deal worth £450 million.

Viacom owns TV channels Comedy Central, Nickelodeon and MTV, but now also own Channel 5 for £450 million, lower than £700 Million that Richard Desmond originally asked for.

Richard Desmond

Viacom said that Channel 5 was:

“One of British television’s biggest brands, and the only commercial public service broadcaster to consistently grow viewership share in recent years”

They then went on to say: ”This deal will dramatically increase Viacom’s investment in content produced in the UK, which has a widely admired public service broadcasting culture and a globally influential production sector”.

Do you think this is a good thing?

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