Channel 4 has taken over full ownership of The Box Plus Network, buying the remaining 50 percent stake in the network that it did not already own from Bauer Media Group.
The Box Plus Network produces and broadcasts seven U.K. music and entertainment channels: 4Music, The Box, Box Upfront, Box Hits, Kiss, Magic and Kerrang. Channel 4 has owned a 50 percent stake since 2007.
Keith Underwood, COO of Channel 4 and board member of The Box Plus Network, said: “This transaction brings the U.K.’s largest and most-watched music television network fully into the Channel 4 family. As part of a broader channel portfolio, we will work with the management team of the Box Plus Network to amplify the value of the assets acquired. This acquisition forms part of our wider strategy to enhance engagement with youth audiences.”
Paul Keenan, CEO of Bauer U.K. and European Radio, said: “Channel 4 are best placed to realize the full potential of the Box Plus Network as 4Music increasingly moves towards broader, entertainment and long-form programming. We will continue to license our music brands KISS, Magic and Kerrang! to the Box and would like to thank Matt Rennie and his talented team at Box for great work and give our best wishes for the future.”