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Channel 4 reveals closure of FIVE beloved channels amid major cost-saving cuts and axed TV shows
Channel 4 has announced the closure of five of its channels as the broadcaster struggles with cost-saving cuts.
'Our strategy reflects the generational shift in TV viewing and involves reducing costs – particularly in linear activities - to allow us to invest in digital priorities and stay competitive in a world of global entertainment conglomerates and social media giants.' MDs of Lime Pictures, Kate Little and Claire Poyser, said: 'Given the success of the new streaming-first model, we are delighted that Hollyoaks remains at the forefront of Channel 4 ’s digital first strategy, bringing authentic, unexpected and untold stories that inspire younger audiences in a way that they want to consume them. 'Evidently there are implications that will mean we have to reshape Hollyoaks’ production model and amidst the buoying news for the future of the show and its audience, we must also acknowledge that a reduction in cast and crew, will be very difficult and we will support everyone in that process.'
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