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The Great British Bake Off is reportedly set to remain on Channel 4 for another three years – after the hit series was at the center of a £100m tug-of-war between streaming giants ahead of its contract with Channel 4 ending.
Reports earlier this month suggested that Netflix and other streaming channels could be lured into making a bid to move the beloved show to a rival broadcaster.
But according to The mirrorbosses are close to agreeing a new three-year deal for the series.
A TV source said: ‘There were some raised eyebrows at Channel 4 when reports suggested Bake Off could be moving in recent weeks as they are in the middle of negotiations.
“But as far as bosses go, they have all the ingredients they believe are necessary for a brilliant partnership on the show and that’s something they want to continue with.
The Great British Bake Off is now reportedly set to stay on Channel 4 for another three years – after the hit series was at the center of a £100m tug-of-war between streaming giants
A TV source claimed: ‘Nothing is confirmed but the most likely outcome now is that Bake Off will stay on Channel 4 beyond 2024’
‘Nothing has been confirmed but the most likely outcome now is for Bake Off to stay on Channel 4 beyond 2024, with both sides favoring a three-year deal at the moment.’
MailOnline has contacted Channel 4 for comment.
It comes after claims the show could be forced to move to a streaming giant due to Channel 4’s ‘money troubles’.
The channel turned down several shows in 2023, reportedly to keep costs under control, and last month it was reported that GBBO could be the next show to go.
The broadcaster’s contract to broadcast the competition reportedly ends after the 2024 series and it was claimed at the time that there was no talk of extending it.
The sun claimed that Netflix and Disney+ were mentioned as potential buyers.
A source said: ‘Having two major companies enter the race has hugely inflated the value of the show, which is already coveted for its global appeal.
‘Streamers are also looking to combine their model with shows that air at the same time and day each week.
It comes after claims the show could be forced to move to a streaming giant due to Channel 4’s ‘money troubles’. (judge Paul Hollywood and Prue Leith seen)
‘Netflix already does this with WWE wrestling and Disney+ recently bought the US version of Strictly. The talk is that they are both looking to do the same with a major British show.’
Channel 4 also reportedly planned to cut up to 200 jobs after a huge drop in TV advertising.
The show, judged by Paul Hollywood and Prue Leith and presented by Noel Fielding and Alison Hammond, launched on the BBC in 2010.
However, it was bought by Channel 4 in 2016 for £25m in a shock move that saw its original presenters sensationally quit.
Netflix currently holds the rights to broadcast Bake Off in America, while ITV came close to bidding for the UK rights during the last round of negotiations but decided against it.
Channel 4 said: “Any speculation surrounding contracts is just that and we look forward to bringing many more soft bottoms to our viewers in the future.”
Netflix and Disney+ declined to comment.
Judge Prue recently broke her silence on the allegations and told The mirror: ‘Oh my God, I hope to stay on Bake Off wherever it goes. But I don’t think it will budge.
‘I know a lot of people are struggling and Channel 4 has lost a lot of shows.
‘But I’m absolutely sure that while Channel 4 is there, they’ll hang on to Bake Off. It’s definitely one of their best shows. I think it has found its natural home on Channel 4.’