Community Channel fundraising deadline extended as Sky donates half of the money
The fundraising campaign to keep the Community Channel on-air has been extended until mid-July, with Sky pledging half of the required money to keep the channel afloat, after insufficient funds were raised during June.
Originally, the not-for-profit channel, which promotes charitable causes across the UK, had threatened that if not enough money was raised by 30th June, the channel would have to close.
With the channel on the verge of missing the £300,000 end of month target, the fundraising deadline has been extended to 17th July 2016. The £150,000 donation by Sky, half of the amount required by the channel, means over 64% of the funding has now been secured.
In total, just over £193,000 has now been raised, but only around £43,000 of the money is from non-Sky sources.
As a result of Sky's donation, it will hold 3,000 shares in the channel and be entitled to be the "sole guest curator of a major season of programming on the channel, advising on programming, scheduling and marketing aspects of the season, subject to the Community Channel retaining ultimate editorial control of the channel as per the Ofcom code", according to the information posted by the channel on Crowdfunder concerning those who invest more than £50,000 in the project.
Members of the public can still buy a share in the channel in return for a £50 donation.