4 Ventures restructures, cuts 45 jobs
LONDON –- Channel 4’s commercial arm 4 Ventures announced Tuesday that is shedding 45 jobs as part of CEO Mark Thompson’s major overhaul of the financially challenged broadcaster, bringing the total number of losses at the broadcaster to 265.
4 Ventures is being restructured following the appointment of its managing director, Rob Woodward, as commercial director of Channel 4.
4 Ventures is also adding a new division, 4 Services, following the recent closure of FilmFour. The other three units Rights, Digital Services and 4 Learning remain the same, although Digital Services, which consists of E4, FilmFour channels, Channel 4 Interactive and 124 Facilities, is being renamed 4 Channels.
As part of the changes, Gerry Bastable, currently managing director of Digital Services is promoted to head of corporate development for Channel 4. Woodward plans to recruit a managing director for 4 Channels. Dan Brooke, who is also general manager of E4, remains deputy head of the division.
Channel 4’s Consumer Products department and its co-production and distribution arm, Channel 4 International, will be merged into a single team within the 4 Rights unit, which will continue to be headed by managing director, Paul Sowerbutts.
There will also be a number of job cuts at 4 Learning, although the structure remains unaffected.