C4 ready for EU implications

Channel 4 (C4) is as “well placed as it can be” to respond to the implications of the UK’s decision to leave the European Union (EU), according to its CEO.

C4 boss David Abraham

David Abraham has assured C4 staff that the company is in “sound health” to deal with challenges that could arise from the UK’s exit from the EU.

In an internal e-mail to staff, Abraham said: “The outcome of yesterday’s referendum obviously brings considerable uncertainty and many questions about what happens next for the country, on a wide variety of fronts. As you’ll be able to tell from reactions across the political spectrum the next steps are uncharted and complex.”

Abraham added that the C4 board had considered the potential outcome and implications on the broadcaster’s business and future role. “On air we will continue to provide rigorous analysis of the unfolding events,” he said.

This marks a huge year for C4, with speculation continuing to mount that it could be partially privatised through the sale of a stake to a partner such as British telco giant BT.

Earlier today, ITV CEO Adam Crozier reassured all 5,000 ITV employees in a similar internal e-mail.

Those in favour of leaving the EU secured a 51.9% majority with 17,410,742 votes in yesterday’s referendum, against 16,141,241 in favour of remaining. Prime minister David Cameron announced at 08.30 this morning he would step down by October this year.