UK TV Network Channel 4 (20!) invests in cannabis company Cannaray

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Vinay Solanki, head of Channel 4 Ventures Channel 4 set up its venture capital arm in 2015 to tap new revenue streams. All profits from the venture investing arm are then returned to the TV network. While the UK legalised cannabis for medical uses in 2018, the take-up has been slow, which industry executives have blamed on excessive red tape. …/… Read full article at  https://www.ft.com/content/c5a203a2-6ea1-4fc4-a1bd-c2d3be101f49   Solanki said Channel 4 Ventures was “highly profitable”, but would not give further detail. Scott Maguire, Cannaray’s chief executive, The two parties would not disclose the size of the deal, in which the broadcaster’s Channel 4 Ventures obtains equity in Cannaray in exchange for advertising inventory on Channel 4, rather than cash.

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The Financial Times writes..

UK public service broadcaster swaps advertising slots for equity in medical marijuana group Cannaray

Channel 4 has invested in cannabis company Cannaray through its venture capital arm, placing a bet that the European market for medical marijuana and non-intoxicating cannabidiol products will continue to grow. Channel 4, a so-called “public service broadcaster” that is owned by the UK government but funded by advertising, was the lead investor in a funding round that raised £10mn for the UK-based cannabis group.

Scott...

Read the full article @ Cannabis Law Report