The Channel Four Television
Corporation is a
statutory corporation established under sections 23-27 of the Broadcasting Act 1990. It was established to secure the continued operation of the broadcasting service known as "Channel 4".
The Corporation has between 13 and 15 members, of whom one is the Chairman, the other the Deputy-Chairman, the rest being members appointed by the commission, plus ex-officio members. These members (except those ex officio) are appointed by the Independent Television Commission, and the appointments are approved by the Secretary of State responsible (Cabinet responsibilities get shifted around for personnel and political reasons). The ex officio members are the Chief Executive and any other employees that the Chairman and Deputy chairman should appoint. Ex Officio members are not allowed to make up a majority of the corporation.
The revenue of the corporation was subject to a dodgy statutory profit-sharing scheme with ITV, but that was ended in 1999 when it was realised that Channel 4 was losing out, and doesn't need to rely on cross-subsidy from ITV. The revenue is now applied in its entirety to "the Purposes of Channel 4".
The Channel Four Television Corporation is the parent company of media group that has international interests including "new media" (The web), Cinema (Via FilmFour), television syndication (via 4ventures, which also deals with their new media activities), and a variety of terrestrial and digital television channels (Includes C4, E4, FilmFour). The company is also involved multimedai horseracing venture attheraces.
Since 2001, 4Venture has taken over most of the group's activities (either the just operations, or the whole equity of another subsidiary), with the parent company holding just Channel 4 televison itself and the group's money laundering Treasury activities (they have significatn forex cash and derivatives activities).