The streaming service will be controlled by the BBC’s joint venture partner ITV, who will have a 90% equity stake, the BBC will hold 10%.
Ofcom says there is not a significant risk that the BBC’s involvement in BritBox would distort the market or create an unfair competitive advantage.
A spokesperson for Britbox told Broadband TV News: “We welcome Ofcom’s decision which means BritBox is now cleared to launch having completed all the relevant regulatory processes. We look forward to launching the best of British streaming service to the public later this year.”
BritBox will be priced at £5.99 per month for which viewers will receive an HD version available across multiple devices.
It will comprise of archive shows from the broadcasters’ libraries, including what’s described as “the largest collection of British boxsets”, and original commissions.
BritBox is expected to launch in the autumn.