C4 ‘Seeking Charitable Status’

According to press reports Channel 4 is considering converting the station into a charitable trust to prevent privatisation. Informal talks have apparently been initiated by a group of non-executive directors who would then lobby the ITC for support.

The move follows Michael Grade’s departure last week as chief executive. Mr Grade was the leading opponent of privatisation, which has long been rumoured to have been on the Government’s agenda, and the station is now keen to reassert this line. Channel 4 would probably raise about £2 billion for the Treasury.

Front-runners for Mr Grade’s job include Michael Jackson, controller of BBC1, and Melvyn Bragg, controller of arts at LWT.