< Back to reports

Channel 4 Sales & Paramount: Mutually beneficial

17 September 2026
Access report

Channel 4 Sales will be selling linear and broadcaster VOD advertising for Paramount channels from January. For the first time Channel 4, Channel 5 and UKTV's channels will be available through one sales house.

C4/Paramount/UKTV will match ITV Media for total viewing, but ITV1 remains the only channel that consistently delivers mass simultaneous reach.

While Sky Media's loss of Paramount in January significantly reduces its size, this could be a blessing in disguise, easing potential competition concerns over the acquisition of ITV's M&E business.

Related reports

TV advertising: European broadcasters playing catch-up with global players

8 September 2026

Broadcasters deliver significant societal value in Europe, but face challenges, competing for viewers and advertising against global players (streamers/VSPs/social media platforms) with different economic models.

Broadcasters’ advertising revenue is plateauing, with growth in the video ad market driven by the tech giants. Global platforms own vast video inventory and proprietary advertising stacks.

Broadcaster collaboration and consolidation is required. However, content access/prominence on platforms and advertising market definitions must be reviewed with regulatory imbalances redressed.

Access report

Sky and ITV broadcast: Offer accepted

7 July 2026

After a significant period of negotiation, Sky’s offer for ITV’s broadcast and streaming operations has been accepted, with consideration between £1.4 and £1.6 billion (the upside being a performance-related earn-out). Most of the payment will be cash, although it will also include Love Productions, makers of Bake Off, valued at £200 million.

From completion, ITV Studios will operate as a standalone business although a Content Supply Agreement with Sky will maintain a consistent flow of content, of around £420 million per year, which is similar to current levels (excl. sport), but with the potential of further upside.

Sky is making firm commitments on ITV's PSB remit and news provision and plurality. The most pressing issue in regulatory clearance will be defining the relevant ads market: a 'broadcaster-only' definition is an anachronism.

Access report

Channel 4: Time for reset

20 May 2026

2025 was a somewhat stable year for Channel 4, with revenue generally flat (–1%, to £1,027 million), bolstered by a better advertising performance (–2%, to £922 million) than ITV, after three straight years of the reverse.

There was growth in non-advertising revenue, although it still remains a small contributor—10% of the total— but Channel 4’s production efforts are gradually taking shape while its IP acquisition strategy is moving faster. Remit delivery continued to outperform.

With new leadership in place, the future remains tricky: a volatile ad market must be navigated with the lowest cash reserves in over twenty years.

 

Access report

  • TV advertising: European broadcasters playing catch-up with global players

    8 September 2026

    Broadcasters deliver significant societal value in Europe, but face challenges, competing for viewers and advertising against global players (streamers/VSPs/social media platforms) with different economic models.

    Broadcasters’ advertising revenue is plateauing, with growth in the video ad market driven by the tech giants. Global platforms own vast video inventory and proprietary advertising stacks.

    Broadcaster collaboration and consolidation is required. However, content access/prominence on platforms and advertising market definitions must be reviewed with regulatory imbalances redressed.

    Access report

  • Sky and ITV broadcast: Offer accepted

    7 July 2026

    After a significant period of negotiation, Sky’s offer for ITV’s broadcast and streaming operations has been accepted, with consideration between £1.4 and £1.6 billion (the upside being a performance-related earn-out). Most of the payment will be cash, although it will also include Love Productions, makers of Bake Off, valued at £200 million.

    From completion, ITV Studios will operate as a standalone business although a Content Supply Agreement with Sky will maintain a consistent flow of content, of around £420 million per year, which is similar to current levels (excl. sport), but with the potential of further upside.

    Sky is making firm commitments on ITV's PSB remit and news provision and plurality. The most pressing issue in regulatory clearance will be defining the relevant ads market: a 'broadcaster-only' definition is an anachronism.

    Access report

  • Channel 4: Time for reset

    20 May 2026

    2025 was a somewhat stable year for Channel 4, with revenue generally flat (–1%, to £1,027 million), bolstered by a better advertising performance (–2%, to £922 million) than ITV, after three straight years of the reverse.

    There was growth in non-advertising revenue, although it still remains a small contributor—10% of the total— but Channel 4’s production efforts are gradually taking shape while its IP acquisition strategy is moving faster. Remit delivery continued to outperform.

    With new leadership in place, the future remains tricky: a volatile ad market must be navigated with the lowest cash reserves in over twenty years.

     

    Access report