(Alliance News) - ITV PLC on Wednesday said that it has accepted the UK media regulator's offer to renew all of its public service broadcasting licences for a full ten-year term.
The London-based television broadcaster and content producer said the Channel Three licences cover all of ITV1's output. This includes its 13 nations and regions news franchises, as well as the Channel Three breakfast licence, which broadcasts as Good Morning Britian. The licenses are issued by Ofcom.
The renewal will last to the end of 2034.
"This provides us with the certainty we require to continue to invest for the long term in our broadcast and streaming businesses and in a wide range of high quality UK produced content at the heart of national life as a PSB," said Chief Executive Officer Carolyn McCall.
"Crucial to this is the passing of the media bill by Parliament and its robust implementation by Ofcom. This new regime - and in particular the provisions around prominence, inclusion and dispute resolution - will determine whether PSB as a system is able to survive and thrive in a world of global online platforms and streamers."
ITV shares were trading 1.3% lower at 70.60 pence each in London on Wednesday morning.
By Holly Beveridge, Alliance News reporter
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