Channel Four Changes

It was announced last night that Michael Grade, chief executive of Channel 4, is to leave the world of television. It is reported that Grade has paid Channel 4 over £100, 000 to release him from his five year contract, which he signed in June 1995. He is expected to be out by July, and is said to be leaving the industry to pursue other business interests.

Speculation is rife about what these other interests could be. Grade is rumoured to be in the running for the post of chief executive of the Premier football league. He is currently a non-executive chairman of VCI, a video distribution company, which last year expressed an interest in acquiring Manchester United. He is also a non-executive director of First Leisure. Other rumours in the city link Grade with the Rank Organisation, the film and entertainment group.

Grade spent eight years in his current post at Channel 4, in this time he transformed the fortunes of the station; both audience share and air-time sales have multiplied during Grade’s reign.

Following the resignation announcement, David Scott, Channel 4’s finance director has been promoted to he newly created position of managing director. Michael Grade’s job, one of the most coveted in British television, will be filled by a candidate selected by the station’s board.

Alan Yentob, director of programmes at the BBC, has been sited as a front runner for the job. Other obvious contenders include Liz Forgan, formerly managing director of BBC Radio, David Elstein, chief executive of Channel 5, David Willis, director of programmes at Channel 4 and Steve Morrison, chief executive of Granada Media Group.