C4 dumps digital radio plans
CHANNEL FOUR has today announced its decision to dump plans to launch three UK commercial radio stations in a bid to save money because of guess what? That's right, the financial crisis.
C4 informed Ofcom the regulator today of its plans to withdraw from 4 Digital Group which it fought so strongly for last year.
C4 is yet another company which has struggled with a downturn in core revenues since the economy has plummeted, its latest strategy comes with a bid to save £10 million next year and £100 million overall.
However, as a result of this decision, the 15 staff employed to work on this radio venture will be out of jobs.
This move comes shortly after C4 axed 150 posts in the company and cut spending by £50 million for what's left of this year and next.
Chief executive Andy Duncan, said, “We’ve taken this decision very reluctantly. We’ve pursued our radio plans in good faith and continue to believe DAB has a strong future and that we could make a return from radio in the medium term. Frustratingly, our plans have been overtaken by a drastic recent downturn in our revenues and we will have to forgo this future profit stream.”
Although Ofcom isn't mad at the company as it said, “Ofcom recognises that the economic environment is very challenging and that all organisations need to make decisions in light of the circumstances they face.”
Ofcom are going to meet with C4 to discuss matters further next week.
Back when C4 announced its radio plans, one of its great ideas was to launch a serial soap that would rival BBC Radio 4’s The Archers - but we all know that could never feasibly happen, right? µ
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If Hollyoaks' cast were average looking I doubt many 12-30 year olds would watch it. It's lame, the actors over-act, the script is poor and action is never gripping. Character's personalities change to suit next week's storyline, but all soaps seem to do this. How come a nice guy turns into a lunatic to suit a storyline? It just makes me turn over and watch something that I can be absorbed in, like babestation! Hollyoaks won't work on Radio because you can't see how good looking someone is on radio. You need personality for radio, so I doubt a soap can make it. Jonathon Ross, Russel Crow, Iain Lee etc are what's needed for good radio. Maybe if C4 got together with some of the BBC comedians then they could put out some good funny material. But I think C4 would struggle for content, like they already do on TV.