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Channel 4 is abandoning its entry into the commercial radio market and will hand back its licence, granted last year, to launch a platform capable of carrying ten new digital stations. By Juliette Garside, Media Correspondent The decision comes as Channel 4 tackles the steep downturn in television advertising with plans to save £100m and reduce headcount by 150 posts. The broadcaster is understood to have taken the decision at a board meeting last night and told staff this morning. Under the banner of providing public service competition to the BBC in radio as well as television, Channel 4 originally planned to launch three of its own stations: music and entertainment specialist E4 Radio, a speech station to rival Radio 4, and a music... [read full story]
