Abraham says he plans to launch a “media enterprise” in 2018, but will remain in his current role until a successor has been appointed.
Charles Gurassa, Channel 4 Chair said: “Under his leadership the Channel has delivered record revenues, record programme investment, award winning creative renewal and industry leading digital innovation. He leaves the organisation in excellent creative and financial health and with a strong and highly experienced team in place. We wish him well in his future new enterprise”.
Receiving no money from the licence fee, Channel 4 continues to walk a tightrope between commercial success and innovative broadcasting. Regular calls to privatise Channel 4 have so far gone unheeded.
“We run a world-class public service broadcaster that offers viewers and producers the opportunity for so much richness, delight and value, across so many genres – and long may that continue,” said Abraham. “Channel 4 matters and I am confident that our stakeholders recognise the unique and significant contribution it will make to the future of UK broadcasting and to the creative industries more broadly”.
Channel 4 has annual revenues in the region of £1 billion and invests an annual £700 million in content.