Philips is understood to be teaming up with Associated Newspapers and Virgin in a consortium to bid for the Channel 5 licence. Philips, a dutch-based company, will bring both technical expertise and a large volume of programming. PolyGram, a Philips subsidiary, recently bought the back catalogue of distributor ITC, which includes vintage shows such as Thunderbirds, The Saint and The Prisoner. PolyGram also owns Working Title, the producer of Four Weddings and a Funeral. Philips is already a partner with Associated Newspapers in Teletext.
The Channel 5 bids have to be received by the ITC by May 2nd.
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