ITN seals deal to make Channel 5 news until 202015 June 2016
ITN has struck a £35 million deal with Channel 5 to continue to make its news programmes until 2020.
The four-year deal represents a significant rise in value following the previous £9 million deal in 2012.
The move will see the 5 News team relocate to the ITN headquarters.
“This deal reinforces our commitment to provide a high quality and accessible news service,” said Paul Dunthorne, Channel 5’s chief operating officer.
The move will come as a relief to ITN after fighting to regain Channel 5 news programmes back in 2012. The company relies upon the contracts for making news for ITV, Channel 4 and Channel 5, which reportedly total around 70 per cent of its revenues.
“We are delighted to confirm this new four-year contract with Channel 5,” said John Hardie, chief executive of ITN.
“5 News consistently delivers distinctive, authoritative news programmes and I am delighted that Channel 5 has demonstrated its ongoing commitment to our innovative and high quality output.