YouView backers sign £100m-plus deal to secure the TV service’s future
Internet based TV service YouView is set to stay, after its seven partners – including ITV, BT and Channel 4 – signed a multi-year funding plan.
The plan, thought to be valued at over £100m, will see the BBC, ITV, Channel 4, Channel 5, Arqiva, BT and TalkTalk retain equal partnership.
"YouView is the fastest growing TV service in the UK and all of the shareholders are pleased with the progress made in just 18 months," a spokeswoman for YouView told the Guardian. "All seven shareholders remain committed to YouView and are confident of finalising the renewed shareholders agreement by the end of March."
The current agreement, expiring at the end of the month, saw the seven partners pay £115m between them for the first four years of operation, with the money also covering the development and launch of the service.
The internet enabled set top box, which launched in 2012 – two years behind schedule - allows users to watch catch-up television from the last week, as well as rewinding and pausing live TV.