According to reports, the broadcaster instead favours the creation of a public service fund, which could back broadcasters' regional and news output, rather than the creation of a channel to compete with the BBC.
ITV's stance was made clear in its submission to Ofcom on the review of the BBC Royal Charter. It argued that the creation of the special fund would be less costly. It also wants a review of the BBC licence fee half-way through the next 10-year charter.
Five also questioned Ofcom's scheme, which would be funded by a supplement to the licence fee or a tax on broadcasters, arguing that the budget for the new broadcaster would dwarf its own £200m budget.
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