STV in ‘new financial terms’ for Channel 3 licences

Simon Pitts

Glasgow-based media firm STV Group plc has confirmed that it has accepted new financial terms with its regulator, Ofcom, to renew its Channel 3 licences for the north and central regions of Scotland. 

The new licences will come into effect from January 1, 2025, and will run for 10-years.

STV notes that ITV has also accepted the same terms for each of its 13 regional Channel 3 licences, which secures the future of the Channel 3 network across the UK,” said the Glasgow firm.

STV Group CEO Simon Pitts said: “We welcome the renewal of our licences, which provides us with the certainty to continue to invest in our business for the long term, while ensuring continued delivery of valued public service broadcasting on Channel 3 in Scotland until the end of 2034.

“We’re proud to be Scotland’s most popular peak time channel, which is testament to a strong schedule of local programming, news and current affairs alongside popular, award-winning network content through our agreement with ITV.

“It’s now critical that the Media Bill progresses through the UK parliament and is swiftly implemented by Ofcom to ensure Public Service Media’s prominence in the digital era.

“This would guarantee that streaming services run by PSBs, like STV Player, are easily discoverable by viewers on digital platforms and devices.”

Pitts is planning to leave STV soon to be CEO of Global, the London-based media and entertainment group.

Global’s portfolio includes radio brands Heart, Capital, LBC, Capital XTRA, Classic FM, Smooth, Radio X and Gold.