Channel 4 Acquires Paramount TV Ad Sales from Sky

Channel 4 acquired the TV advertising sales business of Paramount, the owner of Channel 5, from Sky in a deal valued at over £300 million. This agreement marks the first time advertising for these two public service broadcasters will be sold together. Channel 4 will now manage ad sales for Channel 5 and promotional slots for brands including MTV, Comedy Central, and Nickelodeon, though the deal excludes Paramount+ and Pluto TV.

The acquisition follows a period of internal restructuring at Channel 4, which recently announced cuts to 340 jobs, reducing its total headcount by more than a quarter. For Sky, divesting the business may help secure regulatory approval for its £1.6 billion takeover of ITV's TV and streaming business by limiting its dominance in the traditional TV ad sales market.

The shift comes after Sky Media revenue miscalculations led to approximately £300 million in missed payments to partners since 2017, including Paramount and Channel 5. Reemah Sakaan, President of Channel 5, described the deal as "a historic partnership between two British broadcasters."