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Channel 4 ditches OneWord

04.01.08

Channel 4 has ditched its majority shareholding in Oneword, a move first mooted in The Bookseller in November. According to the Guardian, the decision is fuelling speculation that the national digital radio station is on the verge of closure.

An announcement on the Oneword website reads: "As you may have read in the press, the future of Oneword has been uncertain for some time now. We are carrying out a strategic review which should see a resolution in the New Year."

The Guardian reports that Channel 4 has returned its 51% share in the speech station to UBC Media for a nominal fee of £1. Channel 4 paid UBC Media around £1m for the stake in 2005.

UBC said last November that it had written off its investment in Oneword and was looking at ways to exit the venture.

The station, which was touted as an alternative to BBC Radio 4 when it launched seven years ago, has suspended its normal programming.

Guardian

Channel 4 oneword digital radio

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By Jill Tattersall

This station must have done wonders for sales of books and audiobooks, if the unofficial forum (now withdrawn) on the website is anything to go by. Also introduced thousands to things they would never have read and created new audiences for the coming thing, the audiobook. If properly promoted and supported it could surely have become profitable on these grounds alone. Shame on Channel 4.

05 Jan 08 20:59

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