In an interview with , Airey said and its German owner 's offer of a tie-up with is a "credible solution" and she has been surprised at the hostility to the plan.
The prospect of a merger with Five has been described as a "tragedy" by Channel 4 chairman Luke Johnson and "like mixing oil and water" by his chief executive Andy Duncan.
Airey has said she is being encouraged by government into a tie-up: "I think it's all to play for. Merging with BBC Worldwide wouldn't solve 4's problems in the long term.
"Five and 4 makes sense. It would be a public-private partnership -- what this government has been all about."
According to the Sunday Times, the BBC is proposing that Channel 4's commercial assets, such as , and its headquarters, be pooled into a new operating company with .
The new company would be wholly owned by the BBC but pay 50% of its dividend to fund Channel 4's public service output.
The BBC believes that Five could be added to the venture later.
.jpg)
.jpg)