The government has decided to move ahead with its plans to privatise Channel 4.

The broadcaster is currently state-owned, however, it doesn't receive any public funding - 90% of its revenue comes from adverts.Ministers have decided, following a consultation, that while the broadcaster is "currently performing well", that it being publicly owned is "holding it back in the face of a rapidly-changing and competitive media landscape".

A spokesperson for Channel 4 has commented that it was "disappointed" with the decision that has been made but that it would "continue to engage" with the Government on this ongoing process so that it could "ensure that Channel 4 continues to play its unique part in Britain's creative ecology and national life."Channel 4 will be sold off by the government for at least £1 billion before the next election, it will be the biggest privatisation process in the last nine years.

This is expected to be part of a package of reforms to public sector broadcasting that will be outlined in the Queen's Speech next month.The government has stated that it will ensure Channel 4 "continues to make an important social, economic and cultural contribution to the UK" despite its privatisation.Channel 4 would add that, "the focus for the organisation will be on how we can ensure we deliver the remit to both our viewers and the British creative economy across the whole of the UK."

‍Comments Across The Political Aisles:

"Selling off Channel 4, which doesn't cost the taxpayer a penny anyway, to what is likely to be a foreign company, makes absolutely no sense. It will cost jobs and opportunities in the North and Yorkshire, and hit the wider British creative economy." - Lucy Powell, Shadow Culture Secretary, Labour"Occasionally, we as a country manage to magic up a world-renowned gem into being and Channel 4 is a perfect example. And yet this government seems hell-bent on trashing this uniquely British legacy and undermining jobs and investment in the creative sector." - Jamie Stone, Culture Spokesman, Liberal Democrat"I have had it confirmed that the government intends to privatise channel four as part of the media bill, hopefully using proceeds to invest in skills. I look forward to seeing the white paper. In the new media landscape, reform is undoubtedly necessary."