Through the deal, ITN will continue to produce Channel 4 News up until the end of 2010 as well as invest heavily in new digital services.
This includes a relaunch of to make it more interactive, as well as a Factcheck service, which allows users to monitor the factual and statistical accuracy of statements and speeches made by public figures.
The website will also include interactive bulletins with maps, time lines, surveys and links to previous articles.
In addition to Jon Snow's daily Snowmail email service and his weekly podcasts, the blogging aspect of the site is to be boosted through the views of other commentators, including Nick Glass, who will offer a weekly arts round-up.
Regarding mobile technology, a TV service offering four 90-second news updates, is to be created and there will be additional updates on major breaking stories as well as a daily "best of" clips packages from the Channel 4 News 7pm programme.
Jim Gray, Channel 4 News editor, said: "What's great about this new deal is that it makes the investments in the team and in our newsgathering and production capability to take that even further."
"I look forward to even greater impact for our revelatory and arresting coverage, both on our television programmes and across a broader multimedia range."
Other aspects of the deal include provision for the opening of a new bureau in Beijing, as well as extra journalists across Africa and the Middle and Far East, amounting to more than 20 new posts.
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