Alex Mahon, CEO of Channel 4, announced yesterday that Channel 4 will be sold to create expansion opportunities overseas and generate more capital.
Currently, the government-owned platform receives its funding through advertising and digital — we've all seen that ad for the Ilac shopping centre while we're in the middle of Bake Off, you know the one where your man is eating chips with a load of mayonnaise.
Included in the statement they released regarding the update was a sort of reassuring notion that the shows we all love (*cough* 'Married at First Sight') should be safe from the sale, which Channel 4 has apparently pursued up to £1 billion for, according to the Times. Hefty.
The statement detailed, "Channel 4 has engaged in good faith with the government throughout the consultation process, demonstrating how it can continue to commission much-loved programmes from the independent sector across the UK that represent and celebrate every aspect of British life as well as increase its contribution to society, while maintaining ownership by the public".
While Channel 4 are "disappointed" with the outcome which sees monetary changes for those in production, the government are projecting positive results in terms of international reach, generation of capital, not to mention the opportunity to sell some of it's original programming. But the public don't seem thrilled with the decision, with many tweeting their outrage at the decision.
So, what will the sale mean for us? Well, the decision would seem to be in an effort to compete with more modern streaming services like Netflix, so we may expect a paywall. Don't cry, please don't cry. Let's think of happy thoughts, like our favourite Channel 4 originals that we can binge for free for a wee while longer.