MTV owner Viacom has agreed to buy Channel 5 for £450 million, it was announced today.
Viacom, which owns cable networks such as MTV, Nickelodeon and Comedy Central, said it would look to introduce more UK-created content to global audiences.
It said Channel 5's programmes were viewed by 42 million people every month and its acquisition brought it the only commercial public service broadcaster to grow viewer share consistently in recent years.
Viacom chief executive Philippe Dauman said: "Viacom's global resources, technology and expertise will help Channel 5 develop even more compelling programming and provide content to consumers in exciting new ways."
Channel 5's chief operating officer, Paul Dunthorne, said the deal offered "numerous exciting opportunities for the channel's future".