His support for privatization kills any hope Channel 4 bosses had that a new Conservative leader could choose to abandon the sale process, which is opposed by the vast majority of the British media industry. Instead, support for privatization appears to have become an easy way for the two remaining Tory leadership candidates to signal their free-market credentials to party members who will choose the next prime minister. Liz Truss, the other remaining leadership candidate, is also believed to support the privatization of Channel 4, although her spokesman did not respond to requests for comment on the matter. Truss tries to portray herself as the free-market, pro-privatisation heir to Margaret Thatcher – although it was the former Tory prime minister who set up Channel 4 as a public institution in the 1980s. The sale of Channel 4 is strongly supported by the culture secretary, Nadine Dorries, who is a staunch supporter of Truss. Plans to privatize Channel 4 were expected to be published before parliament ends for the summer recess. However, the legislation has been delayed by legal issues and the defense of Boris Johnson. Instead, it is expected to be ready when parliament returns – under a new prime minister – in the autumn. Channel 4, which recently recorded its strongest ever financial results, insists it does not need to be privatised. It claimed that a new commercial owner would seek to extract greater profits and undermine the broadcaster’s commitment to reinvesting profits into distinctive content. Although a significant number of Conservative MPs are concerned about privatisation, many are relatively apathetic on the issue. Subscribe to First Edition, our free daily newsletter – every morning at 7am. BST A spokesman for the Sunak campaign said: “Rishi will push for the privatization of Channel 4. Channel 4 is a crucial part of British broadcasting and supports our brilliant creative industries, but much has changed since the 1980s when it was created to provides viewers with more options.
