Channel 4 policy boss to depart

Channel 4’s bid to fend off privatisation has been dealt a blow with its head of policy and corporate affairs Helen Jay stepping down, Broadcast can reveal.

Jay, who has been with the broadcaster for more than 13 years, has made the “heart-wrenching decision” to leave in the autumn to pursue other opportunities.

She has been an instrumental part of the team lobbying the government against privatisation, since it published its consultation stating that its “preferred position” is for a change in ownership.

Jay is understood to have made the decision to depart prior to the prospect of privatisation rearing its head and agreed to stay on longer than she initially planned to help steer the broadcaster through the first phase of the consultation process.

In a statement, Jay said it has been a “privilege” to work at C4 since she joined aged 26.

“It’s never a good time to leave - and now is undoubtedly a very bad one. But new adventures call - ultimately, there are other things I want to do,” she added.

“I am so grateful…to this very special organisation that needs nurturing and championing. C4 is an incredible place to work, and more importantly, a vital and unique part of the British media landscape.”

Jay was one of the first senior C4 figures to come out publicly against privatisation when she said the government had produced “no evidence” to support its call for an alternative ownership model at the IPPR Oxford Media Convention.

She reports to director of strategy and consumer insight Khalid Hayat, who joined in 2020 with more than two decades of industry experience, while her team includes senior public affairs manager Philip Milton.

Over her career with C4, Jay has been involved with the likes of PSB licence renewals and reviews, the proposed HFSS advertising ban and the broadcaster’s 4 All The UK diversity drive.

A search for her replacement is underway.

C4 sale price

Her departure has emerged as Enders Analysis issued its assessment that a sale of C4 could generate £600m-£1.5bn, depending on the buyer and the requirements attached.

In a note, co-written by Claire Enders, the firm said that it expected a non-broadcaster buyer to value the business at £600m with its existing remit, including terms of trade attached.

At the other end of the scale, an international broadcaster such as Comcast, Discovery or Viacom/CBS could be prepared to pay up to £1.5bn if the terms of trade were relaxed. Enders posited the higher purchase price due to their ability to deliver cost savings of up to £100m.

A domestic broadcaster, namely ITV, would value C4 at £700-800m and find cost savings of around £20m.