Story from Reuters and The Telegraph:
Reuters and The Telegraph are both reporting that U.S.-based broadcaster Discovery is holding informal discussions about a potential takeover bid for Britain's state-owned Channel 4 television broadcaster, The Telegraph reported on Saturday.The potential bid process is being managed by UK Government Investments, the paper reported, adding that a deal was not expected to be completed until the middle of next year.Discovery did not immediately respond to a request for comment.Britain's government on July 6 announced a consultation on the sale of Channel 4, and it was considering changes to the operating model of the broadcaster, including its ownership, remit and obligations.The advertising-funded Channel 4, whose hit shows include "The Great British Bake Off," was set up with a remit to provide challenging and distinctive programming for audiences under-served by traditional broadcasters.Rival UK broadcasters ITV Plc and Comcast's Sky are also exploring a bid for Channel 4, Telegraph reported.
Reporting by Derek Francis (Reuters)
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