Channel 4's Popworld show (you know, the one you always miss the start of cos it's on so damn early on a Sunday morning) is turning into something of a media empire in itself following the creation of an MTV spin-off earlier this year.
Both Channel 4 and Unique Broadcasting have bought a stake in the brand, which was created and is owned by Simon Fuller (who else?). Channel 4 have bought a 25% stake, Unique have taken a 12.5% stake with the option to take another 12.5% at some point before the end of the year.
A radio version of the show now seems likely, especially given that Channel 4 and Unique are already collaborating on a new radio station, albeit a speech based one.
Of course Popworld's cult appeal has a lot to do with its presenters - Simon Amstell and Miquita Oliver - and if they were to jump ship the brand might not be quite as valuable as it currently seems.