Media group Emap today unveiled a joint venture with broadcaster Channel 4 aimed at creating Britain's number one music television provider.
Emap is to sell 50 per cent of its music TV arm Box TV, which includes seven digital channels such as Kerrang! and Kiss, for £28 million as part of the agreement.
The firm said the venture would benefit from the combination of its brands and Channel 4's music content.
Since purchasing The Box in 1996 for £6 million, Emap has built up its music TV business through a series of launches. Channel 4 has also been developing a cross-platform music strategy through its 4Music brand.
Under 4Music, Channel 4 is responsible for more than 750 hours of programming a year, including coverage of major festivals such as V, 02, Isle of Wight and Download.