Earnings: UK's C4 New Media Losses Grow; "Privatize C4"
This story was written by Robert Andrews.
From PCUK: In UK, the alternative public broadcaster Channel 4's new media losses grew from 6 million to 15.4 million in 2007, as the broadcaster swung to its first ever deficit, leaving it more eager than ever for public service funding reform. New media revenues were up from 18.5 million to 26.7 million, today's annual report says, but the loss "arises as a result of early trading losses for this new business and related platform investment". C4 unified new media staff in their first ever dedicated directorate in November, under former Yahoo (NSDQ: YHOO) exec Jon Gisby, and started 4oD in earnest. More here.
Then, in a rather controversial declaration, former Endemol creative director Peter Bazalgette has called for BBC Radio 1 and 2 to be sold and for BBC Worldwide and Channel 4 to be privatised to finance a public-service online publisher. With the money: "The next generation of comedy talent would post their videos - the most-watched would then earn a bursary. It would link the existing offerings of museums, galleries, theatre companies, opera houses and concert halls." Privatising C4 is one of four ideas floated by Ofcom in its review, for a service that is struggling financially to meet the digital future and that is likely to end up with money from the BBC license fee. More here.
By Robert Andrews