S4C future secured by £10m loan, UK government says
- 20 March 2017
- From the section Wales politics
S4C has welcomed a £10m loan by the UK government which says it will secure the broadcaster's future.
About £7m will be spent on new transmission facilities to be shared at the BBC's new base in central Cardiff.
The rest will help fund S4C's move to new headquarters in Carmarthen, projected to create more than 800 jobs.
Culture Secretary Karen Bradley said the UK government was "committed to securing the future of Welsh language broadcasting".
S4C will also be given £350,000 to upgrade its technical and IT equipment.
The Department for Culture, Media and Sport (DCMS) also announced it would launch an independent review of S4C's remit, governance and funding.
It said the money announced on Monday would "ensure financial stability" during the review process.
"We are making Britain a country that works for all, and are committed to securing the future of Welsh language broadcasting," Ms Bradley said.
"This money will not only ensure S4C continues to prosper, but also that the channel is equipped to compete globally."
The broadcaster is expected to repay the loan by selling its current base in Llanishen, Cardiff, for about £3m, and from money saved as a result of the relocation.
S4C chairman Huw Jones said the channel "welcomes the government's commitment to securing S4C's future".
The DCMS praised S4C for contributing £114m to the Welsh economy in 2015/16 and attracting its highest audiences for nine years, an average of 629,000 viewers a week.
Welsh Secretary Alun Cairns added: "This investment puts S4C on a secure footing for years to come, guaranteeing TV viewers can continue to enjoy a high quality range of Welsh language TV programmes.
"The UK Government is absolutely committed to supporting and promoting the Welsh language, and today's investment is solid proof of that."