Hundreds of TV and film producers urge new PM to abandon privatisation of Channel 4

Hundreds of TV and production companies have urged the next prime minister to scrap the privatisation of Channel 4.

The government announced controversial plans to sell off the broadcaster earlier this year, which was met with criticism from the creative industry, politicians and celebrities.

Channel 4 has been publicly owned since it was founded in 1982 and is funded by advertising.

Ministers said government ownership was holding the broadcaster back from competing with streaming giants like Netflix as they made the case for the sale.

Nearly all TV and production companies have now made their opposition clear to whoever will become the next prime minister, according to The Guardian.

More than 700 independent producers have sent an open letter to both Liz Truss and Rishi Sunak calling on them to scrap privatisation plans if they win the leadership contest - the results of which are expected next week after the ballot closes on Friday at 5pm.

They said ministers should focus on the cost-of-living crisis instead of the “unpopular” plans which would harm their business and levelling-up efforts, The Guardian reported.

The letter also touched upon the fact Margaret Thatcher founded the channel that encourages new independent production companies - which it buys its programming from - to challenge the BBC and ITV.

“What better way to honour Margaret Thatcher’s legacy than to uphold the very organisation she set up?” the newspaper quoted the letter as saying.

Mr Sunak has vowed to press ahead with the privatisation of Channel 4 if he becomes prime minister, based on the same argument that it would help the broadcaster to compete with streaming giants.

A spokesperson for Ms Truss said: "Liz remains open to the sale of Channel 4. However, as a Yorkshire woman, she would make this conditional on Channel 4 remaining in Leeds."

Channel 4 won the channel of the year award at the Edinburgh TV Awards last week.

The privatisation plans came under renewed fire last month after it published its strongest-ever financial performance to date.