LONDON, England: U.S. broadcaster Discovery Channel is in early discussions to potentially take over Britain's state-owned Channel 4 television broadcaster.
A future bid by Discovery is being managed by UK Government Investments, according to Reuters. If terms are agreed upon, a deal was not expected to be completed until the middle of 2022.
Earlier this summer, the British government said it was weighing the sale of Channel 4, along with changes in ownership, remit and obligations.
The advertising-funded Channel 4, was established to develop programming for audiences that were under-served by traditional broadcasters.
Besides Discover, UK broadcasters ITV Plc and Comcast's Sky are also considering a bid for Channel 4, according to media reports.
In its 2020 annual report, Channel 4 reported revenues of 934 million pounds, down 5 percent from 2019.
The viewing share of Channel 4 has reached 10.1 percent, said officials.