Five Exits Project Canvas

LONDON: British broadcaster Five has exited Project Canvas, the IPTV-standards joint venture that recently received the go-ahead from the BBC Trust.

Arqiva, the BBC, BT, Channel 4, ITV and Talk Talk remain on board for the venture, which is working to build an open Internet-connected TV platform. Canvas said in a statement that Five was departing "pending a review of its digital investment strategy." Charles Constable, director of strategy at Five, noted: "We continue to support the objectives of Project Canvas and despite withdrawing our interest in the venture we believe it will be a critical part of our strategy for reaching consumers in the future."

Canvas aims to offer viewers access to both linear content and VOD, web-based programming, HD, and interactive services over the Internet direct to the TV. The partners are likely to shell out a total of £115.6 million over the next four years, according to the BBC Trust.