Channel 4 to close digital investment arm

Channel 4, one of the UK's publicly funded TV broadcasters, is shutting down its digital investment division, 4iP.

New Chief executive David Abraham has decided to scrap the investment division, which had an initial budget of £20 million. 4iP reportedly has around £6 million remaining in it's investment fund, and, before it sinks into the molten lava that courses beneath all UK office blocks, has pledged to spend that on "digital format innovation." Turning TV shows into games, then.

Channel 4's Education division, responsible for games like Privates and The Curfew, is not affected by the change.

[via Develop ]

Correction: This story originally indicated that 4ip was responsible for partly funding Channel 4's educational games initiative. This was incorrect, and the story has been changed to reflect that.