Channel 4 is reportedly in talks with BBC Worldwide over a possible rescue plan that would involve injecting up to £500 million (E634m) into a new media company. Under the plan, parts of BBC Worldwide would be split off, rebranded and combined with Channel 4, which would pay to take a share in the new business. The remainder of the BBC’s commercial arm would continue to operate as it does now.

Combining Channel 4 with the BBC’s 50 per cent share in cable channels UKTV, the 2Entertain business it shares with the rump of Woolworths, and other parts of BBC Worldwide, could solve the financial crisis facing the broadcaster, according to people on both sides. But they warn that discussions could still falter over the control of the proposed new entity.

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