Thursday 1 May 2014 7:08 am

Viacom confirms it’s buying Channel 5 for £450m


I am City A.M.'s deputy business features editor. I look after the Entrepreneurs page, Alternative Finance and our Office Politics section. I also help out with the Forum, running our daily debate. I have a special interest in distributed ledger technology. Prior to working at City A.M., I ran a social enterprise.

I am City A.M.'s deputy business features editor. I look after the Entrepreneurs page, Alternative Finance and our Office Politics section. I also help out with the Forum, running our daily debate. I have a special interest in distributed ledger technology. Prior to working at City A.M., I ran a social enterprise.

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MTV owner Viacom has agreed today to buy Channel 5, following an auction of the UK broadcaster which began last year.

The £450m price values Channel 5 at around nine times last year’s reported earnings before tax, depreciation and amortisation.

Viacom will be the first US firm to control a British public service broadcaster.

Viacom’s chief executive Philippe Dauman said of the deal:

The acquisition of Channel 5 accelerates Viacom's strategy in the UK, one of the world's most important and valuable media markets.

Channel 5 is known for broadcasting shows such as CSI: Crime Scene Investigation, Men In Black, Big Brother and children’s programmes like Peppa Pig.

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