Channel 4 has announced it has acquired the remaining 50% of The Box from Bauer Media Group.
The broadcaster has held the stake in The Box Plus Network, which runs seven UK music and entertainment channels – 4Music, The Box, Box Upfront, Box Hits, Kiss, Magic and Kerrang.
Channel 4 says acquiring full ownership will enable it to increase value across The Box Plus Network and the wider Channel 4 portfolio.
Keith Underwood, Chief Operating Officer 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 added: “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.
In March, Channel 4 announced it was shifting the focus of The Box to entertainment.
Bauer says it will continue to license music brands KISS, Magic and Kerrang!
