Channel 4's Ian Katz has snubbed a bonus as the channel posts a record deficit for 2023, with Alex Mahon and Jonathan Allan taking their bonuses.

Channel 4 has revealed a £52m black hole in its finances after posting the biggest deficit in its 40-year history. The Left-leaning broadcaster, which is publicly owned but commercially funded, said it lost money last year after an advertising slowdown impacted revenues.

Channel 4 has recorded a £52 million deficit last year - the largest in its 40-year history - following a decline in advertising revenue.

The broadcaster’s expenditure over the year included a £663 million investment in content, with £520 million spent on original content.