Latest news with #DawnAirey
Daily Mail
22-05-2025
- Business
- Daily Mail
Channel 4 bosses see pay packets soar despite hundreds of job cuts - as CEO took home £1.3m last year including a half-million pound bonus
Channel 4 bosses' earnings soared by nearly a third last year, despite the public service broadcaster slashing content spend and hundreds of jobs. The publicly owned network's pay for its top team rocketed by 32% to nearly £2.9m last year, the second-highest level in 15 years, according to its annual report. The largest increase was reserved for outgoing CEO Alex Mahon, who announced her departure last month, whose earnings soared by 44% to £1.3m, including a £544,000 bonus. Similarly Jonathan Allan, Channel 4's chief operating officer, saw his pay rise to £848,000, and its chief content officer Ian Katz earned £720,000. The Great British Bake Off broadcaster saw its revenues rise up by only 1% to £1.04b, and its total content spend was £643M, which was down 3% year-on-year and was at its lowest level since the 2020 pandemic. Channel 4, which is publicly owned but commercially-funded through advertising, said that 2024 had been a 'challenging' and argued it was forced to make 'tough but necessary' decisions to cut costs including 200 staff redundancies. Channel 4 bosses earnings soared by nearly a third last year, despite the public service broadcaster slashing content spend and hundreds of jobs When asked how Channel 4 could justify the rise in executive pay amid cuts, interim chairwoman Dawn Airey said the trio did 'extremely well' growing the broadcaster's revenue. She added: 'We saw a massive restructure that took costs out of the business to ensure that we had the performance that we did, and the amount of money spent on the schedule was still extremely significant.' 'That resulted in very good bonuses being paid for the year that are absolutely justified because this team did an extraordinary job.' It comes as the broadcaster announced an end to its 40-year-history as a network that obtained all its content from the independent production sector. In 2023, Rishi Sunak's government abandoned former culture secretary Nadine Dorries' plans to privatise Channel 4 and instead removed restrictions on the broadcaster. Yesterday Channel 4 announced that it would use its new freedom and £111m cash reserves to bring some productions in-house with a new team and plans to take majority stakes in production companies with commercial potential. Its annual report comes during huge upheaval at the broadcaster, with Mahon departing just months after former chairman Ian Cheshire exited the channel. The media regulator Ofcom will now find Channel 4's next chair, who in turn will lead the search in appointing a new CEO.
Telegraph
21-05-2025
- Business
- Telegraph
Channel 4 spending on programmes falls to historic low
Channel 4 is spending less on making programmes than ever before as it ramps up efforts to bolster its finances. The broadcaster, which has produced hits such as Big Boys and Married at First Sight UK, spent £643m on shows last year, including £489m on UK-made programmes. This was down from £663m the previous year and is the smallest amount that Channel 4 has committed to programming since it was launched in 1982, when adjusted for inflation. The drop-off demonstrates ongoing cost-cutting efforts at Channel 4, which is grappling with a decline in advertising and an exodus of younger viewers to streaming rivals and social media platforms. The channel last year slashed around 200 jobs – the biggest round of cuts in its history – and announced plans to sell its London headquarters after crashing to a record deficit of £52m. The savings helped the broadcaster, which is publicly owned but commercially funded, to narrow its deficit to £2m in 2024. Revenues were broadly flat after rising 1pc to just over £1bn. Despite the cuts, Alex Mahon, the outgoing chief executive, saw her pay jump by almost 30pc to £1.3m last year. Dawn Airey, interim chairman, defended the pay increase, saying: 'Last year was a challenging year, but they [management] did really well.' She added: 'Every organisation has to evolve and that also, I'm afraid, does involve looking at the structure and what people are doing and where they're employed. And organisations do, alas, have to shed folks from time to time.' Channel 4 is currently without a chairman after Sir Ian Cheshire stood down last month after three years in the role. Ms Mahon has also announced that she will step down this summer, leaving the broadcaster rudderless at a critical time. Jonathan Allan, chief operating officer, will lead the company on an interim basis. The programming cuts came as Channel 4 announced radical new plans to make its own TV shows. The broadcaster has previously been blocked from making its own programmes, instead buying them from independent production companies. However, this restriction was lifted following an unsuccessful attempt to privatise the broadcaster by the previous Conservative government. The company is now searching for a TV executive to lead these in-house facilities, and production is expected to start next year. Bosses said the production company will be focused on factual entertainment, reality and entertainment genres that have the potential to be sold to other broadcasters and streaming rivals. It comes amid criticism of Channel 4's reality programming, which often revolves around sex and dating. This includes its new show, Virgin Island, which The Telegraph dubbed 'painfully awkward for all involved' in a recent review. Alongside in-house production, the broadcaster will start to acquire majority stakes in indie production companies through a new dedicated fund. Channel 4 has previously angered small producers by slashing its budgets. However, it has insisted that its move into production will be gradual, while the company is increasing its quota of shows sourced from independent producers from 25pc to 35pc. Ms Mahon described the production overhaul as 'one of the more important changes in our history'. She added: 'We do welcome this new opportunity, but we also understand that we have to manage this transition quite carefully.'
Yahoo
21-05-2025
- Business
- Yahoo
Channel 4 spending on programmes falls to historic low
Channel 4 is spending less on making programmes than ever before as it ramps up efforts to bolster its finances. The broadcaster, which has produced hits such as Big Boys and Married at First Sight UK, spent £643m on shows last year, including £489m on UK-made programmes. This was down from £663m the previous year and is the smallest amount that Channel 4 has committed to programming since it was launched in 1982, when adjusted for inflation. The drop-off demonstrates ongoing cost-cutting efforts at Channel 4, which is grappling with a decline in advertising and an exodus of younger viewers to streaming rivals and social media platforms. The channel last year slashed around 200 jobs – the biggest round of cuts in its history – and announced plans to sell its London headquarters after crashing to a record deficit of £52m. The savings helped the broadcaster, which is publicly owned but commercially funded, to narrow its deficit to £2m in 2024. Revenues were broadly flat after rising 1pc to just over £1bn. Despite the cuts, Alex Mahon, the outgoing chief executive, saw her pay jump by almost 30pc to £1.3m last year. Dawn Airey, interim chairman, defended the pay increase, saying: 'Last year was a challenging year, but they [management] did really well.' She added: 'Every organisation has to evolve and that also, I'm afraid, does involve looking at the structure and what people are doing and where they're employed. And organisations do, alas, have to shed folks from time to time.' Channel 4 is currently without a chairman after Sir Ian Cheshire stood down last month after three years in the role. Ms Mahon has also announced that she will step down this summer, leaving the broadcaster rudderless at a critical time. Jonathan Allan, chief operating officer, will lead the company on an interim basis. The programming cuts came as Channel 4 announced radical new plans to make its own TV shows. The broadcaster has previously been blocked from making its own programmes, instead buying them from independent production companies. However, this restriction was lifted following an unsuccessful attempt to privatise the broadcaster by the previous Conservative government. The company is now searching for a TV executive to lead these in-house facilities, and production is expected to start next year. Bosses said the production company will be focused on factual entertainment, reality and entertainment genres that have the potential to be sold to other broadcasters and streaming rivals. It comes amid criticism of Channel 4's reality programming, which often revolves around sex and dating. This includes its new show, Virgin Island, which The Telegraph dubbed 'painfully awkward for all involved' in a recent review. Alongside in-house production, the broadcaster will start to acquire majority stakes in indie production companies through a new dedicated fund. Channel 4 has previously angered small producers by slashing its budgets. However, it has insisted that its move into production will be gradual, while the company is increasing its quota of shows sourced from independent producers from 25pc to 35pc. Ms Mahon described the production overhaul as 'one of the more important changes in our history'. She added: 'We do welcome this new opportunity, but we also understand that we have to manage this transition quite carefully.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Sky News
13-05-2025
- Business
- Sky News
Love Home Swap founder Wosskow screened for Channel 4 chair job
A start-up founder who leads a government-backed female entrepreneurship initiative is among the contenders to become the next chair of Channel 4. Sky News understands that Debbie Wosskow is among the names featuring on a list of candidates to replace Sir Ian Cheshire, who stepped down earlier this year. The race to lead the state-owned broadcaster's board has acquired additional importance in recent weeks after the resignation of Alex Mahon, its long-serving chief executive. Ms Mahon, who was a vocal opponent of the last government's proposed privatisation of Channel 4, is leaving to join Superstruct, a private equity-owned live entertainment company. The appointment of a new chair is expected to take place by the autumn, with the chosen candidate expected to lead the recruitment of Ms Mahon's successor. Dawn Airey, the veteran television executive, is serving as Channel 4's interim chair but has reportedly ruled herself out of the running for the role on a longer-term basis. Ms Wosskow is already on the board of Channel 4, having joined as a non-executive director in January last year. It was unclear on Tuesday whether any of the broadcaster's other non-executives have thrown their hat into the ring to succeed Sir Ian. Ms Wosskow, who now jointly chairs the Invest In Women taskforce, founded the home exchange start-up Love Home Swap before selling it to Wyndham in 2017. The appointment of directors of Channel 4 is technically led by Ofcom, the media regulator, in agreement with the culture secretary.
