Q and A – just what do the government’s plans to privatise Channel 4 mean and why have they decided to go ahead now?
The plans to privatise Channel 4 have led to some key questions – and here are some of the answers.
Why does the government want to privatise the broadcaster?
The government has argued that Channel 4's long-term future needs to be secured amid concerns for its survival in the streaming era. Culture Secretary Nadine Dorries tweeted that she wanted the broadcaster to remain a "cherished place in British life", but felt that government ownership was "holding Channel 4 back from competing against streaming giants like Netflix and Amazon".
What is the current model?
Channel 4, which was founded in 1982 to deliver to underserved audiences, is currently owned by the government. It receives its funding from advertising, not from the taxpayer.
What has happened so far?
Ministers launched a public consultation into a potential change in ownership of the channel last July and Ms
Dorries has been working through 60,000 responses to the consultation.
What happens now?
The Department for Digital,
Culture, Media & Sport (DCMS) said further details will be announced "shortly".
Channel 4 chief executive Alex Mahon said "there will now be a long process ahead", writing to staff in an internal email on Monday that it could take 18 months or more for the required legislation to pass through the House of Commons and then Lords.
How has Channel 4 reacted?
A spokesperson for Channel 4 said it was "disappointed" with the decision, but would "continue to engage" with the government on the process.
Who could buy Channel 4?
Foreign ownership has not been ruled out, as long as the regulator Ofcom's "fit and proper" test for ownership is passed, according to reports. ITV, Discovery and Rupert Murdoch have been linked with bids.
How much could it be sold for?
No price tag has been set by the government yet, but reports suggest the channel could be sold for as much as £1 billion.
Ministers have said they will seek to reinvest the proceeds into the creative industries.