Channel 4 tunes in Emap

Company grabs 50% stake in music unit

U.K. hybrid pubcaster Channel 4 has splashed out £28 million ($56 million) for a 50% stake in British media group Emap’s music TV business.

The move, which comes ahead of the broadcaster expansion into radio, is designed to strengthen Channel 4’s music activities.

Emap, owner of U.K. radio stations and music magazines, runs a portfolio of music channels in Blighty including the Hits, Kerrang! and the Box.

Channel 4 chief executive Andy Duncan said: “This is a strategic investment for Channel 4 designed to generate significant revenues that can be reinvested in supporting our public service activity longer term.

“Music is an important part of Channel 4’s strategy for future growth, and we intend to further strengthen our cross-platform presence with the launch of three C4-branded radio stations from next year.”

The C4 brand is popular among young people. In the past, C4 has considered adding a music channel to its lineup of digital channels.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0


    Leave a Reply

    No Comments

    Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

    Fill in your details below or click an icon to log in: Logo

    You are commenting using your account. Log Out / Change )

    Twitter picture

    You are commenting using your Twitter account. Log Out / Change )

    Facebook photo

    You are commenting using your Facebook account. Log Out / Change )

    Google+ photo

    You are commenting using your Google+ account. Log Out / Change )

    Connecting to %s

    More Music News from Variety