Channel 5 will rejoin the BBC-supported video-on-demand service Project Canvas, after new owner Richard Desmond declared it will “shape the future of broadcasting”.

C5 pulled out early last month due to concerns that it would not be able to make the requirement to fund an equal share of the development and running costs.

However, Desmond’s purchase of the terrestrial channel means it will again partner with the BBC, ITV, Channel 4 and BT, among others, for the online video service.

Desmond expressed his enthusiasm for the project, stating that “having an open internet-connected TV platform fits closely with our plans to bring brilliant new content and interactive services to viewers.

“We’re delighted to renew Channel 5’s commitment to supporting Project Canvas following a review of our digital strategy,” he said.

Daily Express proprietor Desmond purchased Channel 5 from RTL for £103.5 million last month and is already making his presence felt at the broadcaster.

So far he has led what some have labelled a “bloodbath” of cuts, including culling executive roles and up to 80 staff jobs at the broadcaster.

However, upon his purchase of 5 he set out his intentions to invest up to £1.5 million into the company.
Project Canvas is expected to go live next year, possibly under the reported pseudonym of YouView.

(Source: MediaGuardian)