Channel 4 to 'return to profit'

Channel 4 are expected to return to profit this year after cutting more than 300 jobs and closing FilmFour.
The broadcaster reported a post-tax loss of £20.6m in 2001, prompting new chief executive Mark Thompson to spend his first year in the job bringing cash saving purges to the 1,100-strong workforce and closing costly ventures.
The job losses contributed to a £36m reduction in costs and 4 Ventures, the commercial arm, is on target to halve their losses to £30m in 2002.
E4, the digital entertainment channel, are also expected to cut their deficit by more than 50%.
The turnaround is backed by viewing figures, with the channel on course to take 9.6% of peak time audiences this year, against 9.3% in 2001.
Advertising is also on the up, with revenues expected to climb 4.5% to £632m.
However, the closure of FilmFour, the film production and distribution operation, will cost a reported £28m in redundancy payouts and asset write-downs.
(GB)