UK Gold Sponsor Named

UK Gold, the new archive satellite channel which initially planned to go on air this autumn, has named the backer who is willing to provide £35m to get the service on its feet. Cox Enterprises, a US based media company, will receive a 65% stake in the channel in return for the financial investment, leaving the BBC with 20% and Thames with 15%.

Cox is the sixth largest cable operator in the US with media interests in radio stations and newspapers nationwide. This is the company’s first venture into the UK market. Senior Vice President of Cox, Ajit Dalvi, says: “The launch of UK Gold is an important landmark in British television. We look forward to building on the excellent relationships that we have already established with both BBC Enterprises and Thames.”

Derek Lewis, who will run the new satellite channel is very pleased with the agreement commenting: “From the outset they have shown a strong commitment to UK Gold and we share a common vision for the channel. With the financing in place all our efforts are now focused on a successful launch.”

UK Gold will release programming details on September 29. Full details will be available on MediaTel.