Since 2007, Channel 4 has owned a 50% share in The Box Plus Network, which produces and broadcasts seven UK music and entertainment channels – 4Music, The Box, Box Upfront, Box Hits, Kiss, Magic and Kerrang.
Channel 4 said the deal will enable the broadcaster to increase value across The Box Plus Network and the wider Channel 4 portfolio as it targets youth audiences.
Keith Underwood, COO of Channel 4 and Board Member of the Box Plus Network, said: “This transaction brings the UK’s largest and most-watched music television network fully into the Channel 4 family. As part of a broader channel portfolio, we will work with the management team of the Box Plus Network to amplify the value of the assets acquired. This acquisition forms part of our wider strategy to enhance engagement with youth audiences.”
Paul Keenan, CEO Bauer UK and European Radio said: “Channel 4 are best placed to realise the full potential of the Box Plus Network as 4Music increasingly moves towards broader, entertainment and long form programming. We will continue to licence our music brands Kiss, Magic and Kerrang! to the Box and would like to thank Matt Rennie and his talented team at Box for great work and give our best wishes for the future”.