BT rules itself out as a bidder for Channel 5 'for any term'

With less than two weeks left for any bids to buy Channel 5 to be submitted to Richard Desmond, new pay-TV operator BT has ruled itself out of contention.

Channel 5: BT rules itself out of any bidding
Channel 5: BT rules itself out of any bidding

In what is a public blow to Desmond, John Petter, the head of BT's consumer arm, told a briefing at Advertising Week Europe yesterday there was "not a lot to hang your hat on" at Channel 5.

The lack of attractive programming formats, added Petter, did not just rule out the telecoms giant as a potential Channel 5 suitor in the short term, but "it counts us out for any term".

A BT spokesman said the company will not be making any further comment, but it was noted it is also not rejecting Petter's comments.

Desmond's team had hoped that the climate created by the new fierce rivalry between BT, which launched its BT Sport channels in August, and satellite broadcaster BSkyB, might ratchet up the value of Channel 5.

Desmond is believed to be chasing a £700 million deal for Channel 5, the broadcaster he bought three years earlier for £103.5 million.

The deadline for any full and binding bids is 14 April. Media companies still believed to be interested include US giants Discovery and Viacom and possibly BSkyB and UKTV.

If a standout bid is not received, Desmond will consider publicly floating Channel 5.

Topics

Subscribe to Campaign from just £57 per quarter

Includes the weekly magazine and quarterly Campaign IQ, plus unrestricted online access.

SUBSCRIBE

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now
Brands that forge an emotional tie are best protected from copycats
Shares0
Share

1 Brands that forge an emotional tie are best protected from copycats

Forging an emotional tie with consumers is one of the strongest ways to protect your brand. Products can be copycatted, but the distinctive identity of a true brand can never be replicated argues Nir Wegrzyn, CEO of BrandOpus.

Just published