LONDON (Brand Republic) - Channel 4 is to approach City investors to raise money to finance an ambitious expansion into new media.
The publicly owned station will release its annual report on Tuesday and is expected to announce an increase in revenue and profits. However, CEO Michael Jackson said the channel needs more money to exploit the Channel 4 brand.
He said, 鈥淭he investments we have made means we are at the limit of what we can afford to do comfortably. We want to raise money for other exploitations of the Channel 4 brand.鈥
Channel 4 recently revealed announced that it is to spin off its commercial ventures division as 4 Ventures with possible plans to partially sell this off at a later date.
4 Ventures, announced in February, will take control of the company鈥檚 multichannel offerings, including the entertainment channel E4 and its movie channel FilmFour. It will appoint its own managing director, run its own accounts and be managed separately from state-owned Channel 4.
Channel 4 to raise cash in the City
Channel 4 is to approach City investors to raise money to finance an ambitious expansion into new media.