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I think itv would possibly consider a bid to consolidate FTA advertising market, they could rebrand it as itv2.

???

ITV also ruled out making a bid on Channel 5 back in 2014 and I can't see such a bid being considered now, would competition watchdogs even allow it?

I never really thought they utilised Channel 5 being under Viacom/Paramount’s wing that amazingly - they had a whole catalogue of programmes they could’ve used to spruce up their offerings (especially on things like 5Star) but it felt like they got Friends on the main channel and that was about it.

They did try with 5Star. There was South Park, a few sitcoms like My Wife and Kids, Two and a Half Men, even acquired 3rd Rock From the Sun for a bit. More recently earlier this year they actually tried moving Friends from Channel 5 to a morning slot on 5Star.

Clearly this didn't work out. None of the shows I mentioned are on 5Star anymore.