ViacomCBS merger: Ofcom unconcerned over C5


Ofcom has approved the change of control of Channel 5's broadcasting licence after receiving assurances that nothing would change.

Following the announcement that Channel 5's owner Viacom would merge with CBS to form ViacomCBS, Ofcom triggered a statutory review whether the changes would affect who controls the UK's fifth channel and whether it would have an impact on the channel's news and information output.

The review prompted David Lynn. President and CEO of Viacom International Media Networks to write to Ofcom and confirm that his UK team would continue to "maintain the same degree of control over programming and investment strategy for Channel 5" as prior to the merger.

The review confirmed that all organisational changes will occur higher up the corporate structure of ViacomCBS, and that Channel 5 Broadcasting Limited under the control of Viacom Camden Lock Ltd will remain the same.

As a result, Ofcom has concluded no further regulatory action regarding the change of control needs be taken.