Channel 5 ‘s operating profits and sales declined last year, but the Paramount Skydance-owned British network continued to invest in local content.

Published on the UK’s Companies House, Channel 5’s first earnings since the David Ellison-led Skydance merger were skewed by a £80.9M ($109M) payment from Sky Media in 2023 after the ad sales house accidentally underpaid its partners.

Channel 5’s operating profit stood at £21M last year, which was down 81% from £112.4M in 2023, when the Sky Media payment was received. Revenue declined by a fifth from £399M to £318M over the same period.

Strip out the Sky Media money and the picture was somewhat brighter for Channel 5, the network behind series including All Creatures Great and Small and BAFTA-winning White Nanny, Black Child . Opera

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