Business

Five quits Project Canvas scheme

Five has pulled out of Project Canvas - the development of an internet-connected TV set-top box.

The channel, which has been put up for sale by parent company RTL, is reviewing its digital strategy and does not see the project as a priority.

Its share of the £16m scheme is likely to be funded by partners the BBC, ITV, BT, Channel 4 and TalkTalk.

The BBC Trust approved Project Canvas last month saying it offered licence fee payers "significant public value".

The service will see a range of set-top boxes available to access on-demand TV services such as the BBC iPlayer and ITVplayer.

'Excellent support'

Director of Strategy at Five, Charles Constable, said the channel would "continue to support the objectives of Project Canvas".

"Despite withdrawing our interest in the venture we believe it will be a critical part of our strategy for reaching consumers in the future," he added.

Project Canvas director Richard Halton said Five had offered "excellent support".

"They share our goal of bringing the benefits of internet-connected TV to all. We look forward to working with them as a content provider to the platform in the future."

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