Channel 4 chief says TV advertising slump is worst in 15 years

Broadcaster is considering using an emergency 75m credit facility next year, Alex Mahon tells MPs

Channel 4's chief executive has said the TV industry is reeling from the worst advertising downturn in 15 years, forcing the state-owned broadcaster to consider tapping an emergency 75m credit facility next year.

Alex Mahon said that Channel 4 expects the traditional TV ad market to slump by 14% this year, which will see the broadcaster move to a loss in each of the next two years.