4Ventures existing businesses -- 4Channels, 4Learning and 4Services -- will be reintegrated into Channel 4. The most profitable division 4Rights -- housing Channel 4 International, the broadcaster's overseas rights company and Consumer Products -- will be renamed Rights and Consumer Products and form the core of the new-look 4Ventures.
4Interactive is being renamed Channel 4 New Media and will sit alongside Rights and Consumer Products as the core streamlined 4Ventures business.
Andy Duncan, chief executive of Channel 4, said: "4Ventures will now focus strictly on rights and new media, where we see real potential for profit growth. We also believe that E4, FilmFour and More4, when it launches, stand the best chance of sustained growth by being placed at the creative heart of Channel 4, with a cross-channel, portfolio approach to commissioning scheduling and marketing."
The reshuffle has resulted in a number of changes to senior management.
Head of media projects Graeme Mason has been appointed managing director of Rights and Consumer products while current head of 4Interactive Andy Taylor is promoted to managing director of the new media division.
Mason and Taylor will report to a soon-to-be appointed new-business director, who will sit on the Channel 4 board and have responsibility for 4Ventures, replacing commercial director Rob Woodward, who left the company this month.
The 4Ventures' corporate development team, headed by Michael Hodgson, which looks for new investment opportunities for Channel 4 will be retained. Hodgson will also report to the new business director.
With 4Ventures channels being disbanded, the programming heads of E4 and More4 will report to Channel 4's director of television Kevin Lygo.
Staff involved in commissioning, scheduling and acquisitions for E4, More4 and FilmFour will be integrated into the relevant Channel 4 departments.
Channel 4's in-house creative agency, 4Creative, which was formerly part of the 4Services division within 4Ventures, will be integrated into the Channel 4 marketing department.
4Creative will continue to work with external clients on a commercial basis, as well as servicing the creative ad requirements of Channel 4.
The previous standalone ad sales team for 4Interactive will be integrated into Channel 4's ad sales team.
In addition, the ad sales research team is being merged with the channel's research and insight team.
Duncan is also introducing a new executive management team within Channel 4, which he will chair, consisting of the directors of television, sales, new business, finance, marketing and human resources and the head of strategy and research.
Duncan added: "As we move towards a fully digital Britain, Channel 4 intends to significantly increase its presence on multichannel and new media platforms, but I'm committed to achieving this expansion with staff numbers at or below 2004 levels."
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