Channel 5 Rejoining Project Canvas JV

As expected, the newly renamed Channel 5 is rejoining Project Canvas as a stakeholder.

Five had pulled out earlier this summer as owner RTL looked to trim costs ahead of a sale.

In fact, that decision looks to have been short-sighted. Not only could any buyer have taken that decision for itself; a seat at the table of Canvas would clearly be beneficial to any new owner, since Canvas will allow Channel 5 to make money from VOD micropayments or ads if it wishes.

CEO Richard Desmond of Northern & Shell, which bought Five for £103.5 million in July, says in the announcement from the BBC…