The deadline for applications for Channel 5 has now passed; the ITC had to receive all bids by 12 noon today.
Bids are expected to reach around £20 million; Rupert Murdoch’s consortium is expected to pitch the highest offer. Richard Branson’s Virgin Group was the first to place a bid, lodging its bid with the ITC at 8.30 am this morning. Their programming will contain drama and films. Next to place a bid was UK TV, the consortium which includes SelecTV and CanWest. The BSkyB consortium and the Pearson consortium have also both now placed their bids.
The licence will go to the highest bidder, provided they fulfil programming, financial and technical requirements.
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