Channel 5’s programming budget to increase

American media company Viacom has said it will increase Channel 5’s programming budget after completing a deal to buy the company for £440 million from Richard Desmond’s Northern and Shell company. Philippe Dauman, president and chief executive of Viacom, told The Guardian that it expects to ‘significantly increase’ the budget of Channel 5 which is currently at £200 million. The company, which also owns pay-TV channels such as MTV and Nickelodeon, is not