Channel 4 Secures Paramount's £300m TV Ad Sales Business from Sky
Channel 4 has taken over Paramount's television advertising sales operation, valued at over £300 million, which was previously handled by Sky.
The deal gives Channel 4 control of the ad sales for Paramount's UK channels, a portfolio worth more than £300 million. The move follows Channel 4's announcement of a major restructuring that will cut more than a quarter of its 1,276-strong workforce. In addition to the new contract, Channel 4 already manages advertising for UKTV, whose channels such as Gold and Dave generate about 90% of their £1 billion revenue from ads. The acquisition is seen as a significant boost for the broadcaster amid its cost-saving measures.
Why it matters
The deal expands Channel 4's advertising revenue stream while it trims staff, reshaping the UK TV ad market.
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