Channel 4 today announced that it has acquired full ownership of the The Box Plus Network, buying the remaining 50% stake in the network that it did not previously own from Bauer Media Group.
Since 2007, Channel 4 has owned a 50% stake in The Box Plus Network, which produces and broadcasts seven UK music and entertainment channels – 4Music, The Box, Box Upfront, Box Hits, Kiss, Magic and Kerrang.
Acquiring full ownership will enable Channel 4 to increase value across The Box Plus Network and the wider Channel 4 portfolio.
Keith Underwood, Chief Operating Officer of Channel 4 and Board Member of the Box Plus Network, said: “This transaction brings the UK’s largest and most-watched music television network fully into the Channel 4 family. As part of a broader channel portfolio, we will work with the management team of the Box Plus Network to amplify the value of the assets acquired. This acquisition forms part of our wider strategy to enhance engagement with youth audiences.”
Paul Keenan, CEO Bauer UK and European Radio said: “Channel 4 are best placed to realise the full potential of the Box Plus Network as 4Music increasingly moves towards broader, entertainment and long form programming. We will continue to licence our music brands KISS, Magic and Kerrang! to the Box and would like to thank Matt Rennie and his talented team at Box for great work and give our best wishes for the future”.
For further information:
Head of Press & Publicity, Channel 4
020 7306 8181 / 07801 628 659
Communications Director, Bauer Media
0207 432 3317/07932 746363
About Channel 4 :
Channel 4 is a publicly-owned yet commercially-funded public service broadcaster and has a remit to be innovative, experimental and distinctive. Its public ownership and not-for-profit status ensure all profit generated by its commercial activity is directly reinvested back into the delivery of its public service remit. As a publisher-broadcaster, Channel 4 is also required to commission UK content from the independent production sector and currently works with around 300 creative companies across the UK every year. In addition to the main Channel 4 service, its portfolio includes: E4, More4, Film4, 4Music, 4seven, Channel4.com and digital service All 4.
About Bauer Media UK:
Bauer Media UK reaches over 25 million UK consumers through a portfolio of world-class, multi-platform media and entertainment brands including heat, KISS, Grazia, Empire, Magic, Absolute Radio and the Hits Radio Network. These brands offer commercial partners access to highly engaged audiences, with creative solutions underpinned by insight and instinct. Bauer Media UK is part of the Bauer Media Group, one of the world’s largest privately owned media businesses with media assets all over the globe.