Channel 4 wins Paramount's £300m-plus TV ad sales business from Sky
The broadcaster has secured the advertising sales contract for Channel 5 owner Paramount, days after announcing 340 job cuts
Channel 4 has won the television advertising sales business of Paramount, the owner of Channel 5, taking the contract worth more than £300m away from Sky, according to the Guardian.
The Guardian, citing an exclusive report, described the move as a significant boost for Channel 4, coming just days after the broadcaster announced plans to cut 340 jobs.
Channel 4 relies on advertising for about 90% of its roughly £1bn in annual revenues, according to the report, underlining the importance of the new business win to the broadcaster's finances.
The deal means Channel 4 will take over responsibility for selling advertising space for Paramount's Channel 5, a contract previously held by Sky.
The Guardian did not provide further detail in the excerpt on the length of the new agreement or when it is due to take effect.
Sources
- Channel 4 poaches Paramount’s £300m-plus TV ad sales business from Sky — The Guardian — Business
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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