U.S. media company Viacom has today confirmed it is buying UK free-to-air public service broadcaster, Channel 5 for £450m.
Viacom, owners of MTV, Nickelodeon, Comedy Central and Paramount movies has said it will introduce more UK-created content to global audiences.
Channel 5 launched as the UK's fifth public service broadcaster in March 1997 has an audience of 42 million viewers in the UK.
The sale had reportedly drawn interest from more than 20 potential buyers, including Discovery Communications, Scripps Networks and British Sky Broadcasting Group.
DTG Staff | 01.05.2014