[Keith]

Channel 4 has just issued a press release on the restructure.

It confirms a large number of redundancies, the closure of smaller linear channels (including the Box channels) and it will leave its base at Horseferry Road.

www.channel4.com 

I guess two major takeaway points from that press release are...

Moving out of Channel 4’s London base in the next few years. With 600 roles based outside of London by the end of 2025, lower headcount in London overall, and a shift to flexible working, Channel 4 will find a new fit-for-purpose office space in central London

Presumably some people and/or jobs may move to either their national HQ in Leeds, or creative hubs in Bristol and Glasgow. I'm guessing there's probably been some empty space at Horseferry Road since 2020 when these opened, and that remote working means that they don't needs as many large meeting rooms and conference spaces. Probably much cheaper to hire a couple floors in another building for the remaining London staff.

Proposing to close small linear channels that no longer deliver revenues or public value at scale, including the Box channels in 2024 and others at the right time

They've been notably vague in specifying which "small linear channels" they propose to close and when, apart from confirming the Box channels will close this year. I'm guessing that +1 channels and 4Seven may fall into these categories, especially if they've also announced they wish to increase use of the Channel 4 streaming service, especially their ad-free subscription.