Channel 5 Decision Expected Soon

The results of the bidding round for the last UK terrestrial television station, Channel 5, are expected imminently. The Independent Television Commission has said it could very probably decide the outcome at the next monthly meeting, which is to be held next Thursday, October 19. If the decision is finalised then, the results will not be made public until Friday at the earliest. If the board fails to make a decision, the outcome will not be made until the November meeting.

Tipped to win appears to be UKTV, the consortium which put in the highest bid, of over £36m. There was some controversy over the UKTV bid, however, because of the high level of foreign ownership. The consortium is made up of CanWest, Australia’s Network 10, Scandinavian Broadcasting Systems and SelecTV. UKTV, as the highest bidder, if it meets basic quality requirements can only be beaten if the ITC decides another contender is offering “exceptional quality”.

SelecTV was rumoured to be subject to takeover bids yesterday, from amongst others Pearson and Associated Newspapers, both rival C5 bidders.