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01/05/2014
Viacom To Buy Channel 5
Viacom is to buy Channel 5, it has been confirmed.
The US media group is understood to have acquired the UK channel for £450m from the Northern & Shell group.
In a statement, Viacom said the move would "accelerate" its strategy within the UK, and called Channel 5 as "one of British television's biggest brands".
Philippe Dauman, Viacom President and Chief Executive, said: "Channel 5's momentum is indisputable, with impactful programming, increasing popularity and a growing digital platform.
"Channel 5's management and employees have done an outstanding job building their brand and we are pleased to welcome them to our team."
Channel 5's Chief Operating Officer, Paul Dunthorne, added: "The combination of Channel 5 with Viacom's global resources, technology and expertise adds further to the momentum of the business and offers numerous exciting opportunities for the channel's future."
Channel 5 was first launched in March 1997. It was the UK's fifth terrestrial television channel.
(JP/MH)
The US media group is understood to have acquired the UK channel for £450m from the Northern & Shell group.
In a statement, Viacom said the move would "accelerate" its strategy within the UK, and called Channel 5 as "one of British television's biggest brands".
Philippe Dauman, Viacom President and Chief Executive, said: "Channel 5's momentum is indisputable, with impactful programming, increasing popularity and a growing digital platform.
"Channel 5's management and employees have done an outstanding job building their brand and we are pleased to welcome them to our team."
Channel 5's Chief Operating Officer, Paul Dunthorne, added: "The combination of Channel 5 with Viacom's global resources, technology and expertise adds further to the momentum of the business and offers numerous exciting opportunities for the channel's future."
Channel 5 was first launched in March 1997. It was the UK's fifth terrestrial television channel.
(JP/MH)
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