Tabloid Newspaper Owner To Buy Channel Five And Return To Project Canvas?
Will they, or wont they join Canvas?
After the shock removal of Channel Five from the BBC IPTV venture, Project Canvas. News comes in that Newspaper owner Richard Desmond will buy the tv channel from owners RTL and return it to the project.
According to reports, Desmond who owns the Daily Express and OK magazine is expected to purchase Channel Five this week for a reported £100m. He had faced competition from Channel 4, Time Warner and Endemol for the tv network. Five’s share in the Project Canvas venture was around £20m, a sum Desmond will fork out to keep it included as a partner in the venture.
Channel Five had announced it was withrawing from Canvas earlier just a few days ago due to capping its digital spend. Orange has been reported to be a likely candidate to replace Five as a partner in the project. Five although financially unstable is keeping busy with a relaunch of its Catch up tv service Demand Five this autumn and an iphone tv app.
Related News:
- Project Canvas Blow As Channel Five Quits
- Orange Looking To Join Project Canvas
- Channel 4 Jump Aboard Project Canvas
- Project Canvas Online TV Could Be Approved This Week
- Project Canvas Could Launch By September And Target 7 Million Viewers
[...] also revealed he will pay the £20m to allow Channel Five back in the Project Canvas, the joint venture with other partners that includ the BBC, Channel 4 and BT, to bring an online [...]
[...] Canvas team today have announced that Channel Five will be rejoining the joint venture, following Channel Five’s recent takeover by Northern & Shell the UK’s leading independent publishing [...]