Channel 4 buys stake in Emap TV

Brands such as Kerrang have their own TV channels

UK publisher Emap has agreed to sell 50% of its music television arm, The Box, to Channel 4 in a £28m deal.

The business runs seven TV channels including Kerrang!, Q and The Hits.

The joint venture would benefit from utilising its brands with Channel 4's music content - which includes festivals such as Download - Emap said.

Emap, the firm behind celebrity title Heat and several mens' magazines, bought The Box in 1996. Last year the off-shoot made a £7m operating profit.

'Music important'

"Emap and Channel 4 are like-minded partners and together we make a formidable force in an otherwise fragmenting and challenging market," said Paul Keenan, Emap's chief executive of consumer media.

"We will look to exploit new and emerging digital growth opportunities, including video-on-demand, in addition to traditional broadcast revenue streams."

And Channel 4's chief executive Andy Duncan, said that music was an important part of its strategy for future growth.

"We intend to further strengthen our cross-platform presence with the launch of three 4-branded radio stations from next year," he said.

Earlier this month Emap agreed to sell its Irish radio stations to Communicorp Group for 200m euros ($275m; £135.3m) in cash.

Consumers are turning away from Emap's traditional print market

Emap is restructuring its business, which has struggled lately in the highly competitive consumer magazine market - its core earnings stream.

In a recent trading statement, Emap said revenue from its consumer magazines division fell 8% in the three months to the end of June while advertising dropped 13%.

But the firm has said it is on track to make £20m from savings by 2009.

Analysts have repeatedly highlighted the chance of a break-up or bid for the group since its chief executive Tom Moloney stepped down in May.