09/07/2002 - Brit industry awaits decision on the fate of Channel 4's film production arm

Europe´s film industry is watching and waiting to learn the fate of one of the Britain´s most prolific film production companies, FilmFour, owned by private Tv network, Channel 4. The FilmFour board is meeting and an announcement is expected about the entity of the cuts that seem unavoidable. In his inaugural address on 8 July, Channel 4´s new CEO, Mark Thompson announced a series of cuts in spending and personnel that he hopes will benefit more programme production. This is the first major reshuffle at Channel 4 in twenty years. For the first time in ten years, FilmFour reported losses to the tune of €7.5m. According to today´s «Independent» FilmFour will be restructured, with many of its 60 employees likely to lose their jobs. The company will continue to produce films, with Channel 4 guaranteeing the broadcast rights but it will be up to the individual producers to find their budgets. FilmFour produced some of the most successful films of recent years, including 4 Weddings and a Funeral and Trainspotting.