PM poised to scrap plan to privatise C4

RISHI SUNAK is expected to shelve plans to privatise Channel 4 amid a backlash against the move from within his own Cabinet.

Industry insiders expect the sale of Channel 4 to be dropped from the new Media Bill as the Prime Minister overhauls policy pledges.

Under Boris Johnson, the Government drew up plans to privatise the public service broadcaster, which is owned by the state but self-funded through advertising, as part of a wider effort to modernise the sector.

Mr Sunak backed the move during his leadership campaign, arguing that Channel 4 needed a commercial owner to help it survive the rise of streaming services such as Netflix and Amazon.

But he is now reviewing some of his campaign pledges as the recent market turmoil shifts Downing Street’s priorities to the economy. The Prime Minister has also faced opposition to the policy from members of his own Cabinet.

Earlier this year, Jeremy Hunt, the Chancellor, came out against the plans, saying it was important to maintain competition between Channel 4 and the BBC.

Also, Thérèse Coffey, the Environment Secretary, this week praised Channel 4 at the broadcaster’s 40th anni- versary celebrations.

“It’s likely that the Government will want to quietly drop privatisation”, one senior Tory told the Financial Times, which first reported the move.

“It’s unpopular with some parts of the party.”

Plans to privatise Channel 4 have been widely criticised amid concerns about the impact on the UK’S independent production sector.

A government spokesman said: “The Culture Secretary has been clear that we are looking again at the business case for the sale of Channel 4.”

Channel 4 has been contacted for comment.