MAI and Pearson have teamed up with Time Warner to form Channel 5 Broadcasting a new consortium which will bid for the Channel 5 licence if it is re-advertised.
The consortium believes that it has discovered a way of launching the fifth national channel at half the original estimated cost of £200m. Changes to the planned frequencies for Channel 5 could not only halve costs but also free a whole channel for use by digital television in the future. The consortium wanted to show that there does not have to be a choice between Channel 5 or waiting for digital stations in the future; both were possible.
Lord Hollick said the free channel could support four to eight digital stations. According to Lord Hollick, slight changes to the proposed frequencies would allow about 70% of the country to receive the station, with fewer video recorders and TVs having to be retuned. 4 million homes would need retuning, costing around £20m, against the original estimate of £70m.
The ITC has said that it wants to re-advertise the C5 licence again, but it is awaiting assurances from the government that the frequencies will be available.
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