UK TV broadcaster Channel 5 have changed ownership after being sold to Viacom for a reported £450 million . It marks the first time that a FTA UK channel has been owned by a US broadcaster.
Viacom, who own MTV, Nickelodeon and Comedy Central snapped up the UK channel owned by Richard Desmond’s Northern & Shell group, and said that Channel 5 is, “one of British television’s biggest brands” and will, “accelerate” Viacom’s UK growth.
Viacom will also become owners of other Channel 5 subsidiary channels, 5* and 5USA, along with kids channel. Also included in the deal is the internet catch-up service, Demand 5.
Philippe Dauman, chief executive of Viacom said opf the deal, “Channel 5′s momentum is indisputable, with impactful programming, increasing popularity and a growing digital platform.”
“Viacom’s global resources, technology and expertise will help Channel 5 develop even more compelling programming and provide content to consumers in exciting new ways.
“In addition, we will introduce our popular content to new UK audiences and create a comprehensive offering for our commercial partners on-air and on-line.”
Channel 5 was a loss making outfit when Northern & Shell, bought it four years ago for £103.5m, and sale of the the channel drew interest from a number of interested parties including BSkyB, Discovery Communications, Scripps Networks along with Viacom.
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