NO - Anthony Woolich, partner, Lawrence Graham
Channel 4 is regarded as a high-quality provider of public service broadcasting, with plenty of original content focused on the UK. It doesn't tend to show as many repeats or as much foreign-based content as other commercial broadcasters.
But in the current depressed market for advertising, Channel 4 is unlikely to command a high price. European Union state aid rules mean that if content is publicly funded it needs to be widely available, innovative, challenging and engaging.
The European Commission has recently recognised that activities other than television content, for example on-demand content via the internet, can be included in the public service remit.
Provided a sustainable, competitively neutral and transparent public funding arrangement can be found and the public service remit can be maintained with that funding, there should be no reason to privatise Channel 4.
YES - Phil Hall, director of TV, MediaCom
It's not so much a question of "should" the Government privatise Channel 4? Rather "when will" it happen?
With a government racking up record levels of borrowing, and several interested parties waiting in the wings, Channel 4's days of public ownership are surely numbered.
Privatisation of Channel 4 should hold no fears for advertisers or viewers. It already operates successfully in a commercial market and its public service demands appear to already be treated as secondary to revenue generation.
To those who fear a sudden dumbing down, Channel 4 has always sold itself on its appeal to young and upmarket audiences. It is very unlikely that a buyer would seek to change this successful profile. Instead, a sale to a major media operator could lead to a raft of new programming and a revitalisation of Channel 4.
NO - Chris Hayward, head of investment, ZenithOptimedia
The structure of the current UK television broadcast market is rich and varied. Within commercial television, Channel 4, from the moment of its inception, has deliberately sought to offer something different from ITV and its other competitors in terms of its target audiences and programmes.
The commercial structure of Channel 4 has allowed it to develop its character as it has encouraged risk-taking.
I don't like everything that Channel 4 does, but I do believe it has a unique position in British broadcasting and, in the main, has had a positive effect on TV output over the past three decades.
The privatisation of Channel 4 would inevitably change its programming output - commercial optimisation would be its ultimate goal. That may put Channel 4 on the same commercial level as its competitors. But in that case, I believe a unique contributor to British culture would have significantly changed.
NO - Jim Marshall, chairman, IPA Media Futures Group/Starcom MediaVest
I can't see any point in privatising Channel 4. Its main issue is funding, but its future funding solution should not damage its public service role.
Privatisation might potentially increase its revenues, but only through a more populist and commercial programming approach.
I believe Channel 4 continues to hold a distinctive and valuable position in the UK broadcast scene - distinctive and valuable for both viewers and advertisers.
Furthermore, at a time when ITV is rightfully looking to reduce its public service commitments, we need Channel 4 to maintain a different and complementary approach and not become a "mini ITV".
This means that Channel 4 needs to continue to appeal to both large and small audiences - all of the people, some of the time. This, in turn, will create a revenue gap, which needs to be covered. But privatisation is a glib and incorrect solution.