Channel 4 and UK regional media development agencies will start a $100 million (£50 million) digital commissioning fund as the broadcaster looks to retain its publicly-funded status whilst enduring tough economic times. The “Next On 4” blueprint it unveiled this week was largely a restating of existing goals, but the “4 Innovation for the Public” (4IP) fund will see a new senior executive report to new media director Jon Gisby to work on digital multimedia productions. Just $40 million (£20 million) comes from C4, the rest from partnerships with regional media funds. C4 also said it wanted to syndicate content to sites like Bebo and MySpace.

C4 has warned for a couple of years it’s facing a $100 million (£100) million shortfall thanks to its digital investments and falling ad sales, so is desperately looking for support, including a slice of the BBC licence fee. Partnering with existing media development agencies seems to be a way to offset costs and could be a good opportunity for regional independent producers not already making content for C4.