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WAIT. WHAT DOES THIS MEAN?
Dec. 23rd, 2009 09:48 amhttp://www.variety.com/article/VR1118013052.html?categoryId=19&cs=1&nid=2248
BBC Trust approves Project Canvas
ITV, Channel 4, British Telecom back project
By STEVE CLARKE
LONDON -- The BBC Trust greenlit U.K. video-on-demand venture Project Canvas on Tuesday.
While the Trust said its decision is "provisional" and subject to a six-week consultation period, the expectation is the joint venture, whose other backers include ITV, Channel 4 and British Telecom, will bow in the next 12 months.
The BBC set budget at about £115.6 million ($185 million) over four years. This works out at $26 million apiece for the six partners.
BSkyB criticized the move. "There is no need for public money to be spent on replicating what's set to be delivered through commercial investment," it said.
BBC Trust approves Project Canvas
ITV, Channel 4, British Telecom back project
By STEVE CLARKE
LONDON -- The BBC Trust greenlit U.K. video-on-demand venture Project Canvas on Tuesday.
While the Trust said its decision is "provisional" and subject to a six-week consultation period, the expectation is the joint venture, whose other backers include ITV, Channel 4 and British Telecom, will bow in the next 12 months.
The BBC set budget at about £115.6 million ($185 million) over four years. This works out at $26 million apiece for the six partners.
BSkyB criticized the move. "There is no need for public money to be spent on replicating what's set to be delivered through commercial investment," it said.
