Channel 4 chief executive Andy Duncan has welcomed Ofcom's support for a new funding mechanism to guarantee its PSB future.

In a speech at the Royal Television Society tonight, Ofcom chief executive Ed Richards will outline what he sees as the need for C4 to provide PSB competition to the BBC, particularly on digital platforms.

In ruling out a BBC-only PSB model, Richards has effectively guaranteed a PSB future for C4.

The choices now are between an ‘evolution' model, in which C4 extends its remit across platforms, with additional funding; a model in which the BBC and C4 are the main recipients of PSB funds; and a model in which C4 is guaranteed PSB status but would have to pitch for additional funds.

“We're very encouraged that Ofcom now broadly accepts our forecasts on the size and urgency of our funding gap and agrees that identifying a new funding mechanism for Channel 4 is a ‘pressing priority',” Duncan said.

“We also warmly welcome Ofcom's endorsement of our Next on 4 creative vision and its recognition that Channel 4 is critical to ensuring ongoing competition to the BBC in the provision of high-quality public service programmes.”

Ofcom will publish the second phase of its PSB review on 25 September and will invite responses from all interested parties.