Sky News to lose Channel 5 contract?

Channel 5Reports claim that ITN could be about to win back the contract to supply new for Channel 5.

Sky News currently provides the news for Channel 5 and has a multi-year deal to do so. However, according to Media Guardian that could soon come to an end with ITN regaining the contract. Media Guardian reports that a deal has been agreed between Channel 5 and Sky to allow the contract to end early.

Richard Desmond acquired Channel 5 last year and there was wide-spread discussion at the time if the newspaper owner would keep Sky News as the channels news provider – because of Sky’s connections with News International which are rivals of Desmond’s newspapers the Daily Express and the Daily Star (as well as their Sunday counterparts).

The deal to cancel the contract is thought to be near to being finalised with ITN likely to takeover the news at Channel 5 from early next year. The move is part of Desmond’s drive to cut costs at the broadcaster and increase celebrity coverage – with shows such as Celebrity Big Brother and OK TV prime examples. ITN currently provides news for Channel Four and ITV and formely supplied news for 5 until it lost the contract to Sky News.