Discovery Exploring Takeover Bid For UK’s Channel 4

US-based broadcaster Discovery is holding informal discussions about a potential takeover bid for Britain’s state-owned Channel 4 television broadcaster, the Telegraph reported on Saturday, July 31.

The potential bid process is being managed by UK Government Investments, the paper reported, adding that a deal was not expected to be completed until the middle of next year.

Britain’s government on July 6 announced a consultation on the sale of Channel 4, and it was considering changes to the operating model of the broadcaster, including its ownership, remit and obligations.

The advertising-funded Channel 4, whose hit shows include “The Great British Bake Off,” was set up with a remit to provide challenging and distinctive programming for audiences under-served by traditional broadcasters.

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