Channel 4 employees will receive retention bonuses as government rules out privatization
Channel 4 said it would pay employee retention bonuses announced before the Government scrapped plans to privatize the broadcaster.
taff has been notified of the payments, which will vary among employees, amid a proposal to take the broadcaster out of public ownership.
On Monday, Channel 4 confirmed that it would still reward the “commitment” of eligible employees during “extraordinary and difficult times”.
A spokesman told the PA news agency: “The withholding payment will be paid to all eligible employees by June 2023.
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Michelle Donelan confirms the Government has canceled the plan to privatize the TV station (James Manning/PA)
“This payment reflects the dedication and commitment of our employees during this exceptional and difficult time and has delivered strong creative, commercial and financial results.”
On Thursday, Culture Secretary Michelle Donelan confirmed the Government had scrapped plans to privatize the broadcaster led by her predecessor Nadine Dorries under Prime Minister Boris Johnson.
Ms Dorries has since criticized the move.
Ms. Donelan also said Channel 4 will be able to create and own some of its own content.
Channel 4 CEO Alex Mahon welcomed the confirmation, who praised the Government for a “rational decision”.
The government will legislate through the Media Bill to relax the publisher-broadcast restriction, which prevents Channel 4 from creating in-house content.
The broadcaster’s top shows are now produced by independent production companies, with Love Productions’ The Great British Bake Off and Studio Lambert’s Gogglebox.
Ms Mahon added: “We are building the creative economy in the UK and the independent sector and I want to make sure we remain a part of that for the next 40 years.”
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