Idris Elba is in talks to join Channel 4 bid

Actor Idris Elba is in talks to be among the bidders for Channel 4, a state-owned broadcaster that the U.K. government is seeking to privatize, The Sunday Times reported.

Why it matters: U.K. culture secretary Nadine Dorries suggested in April that privatization could help the TV network compete with the streaming giants. But its future success also depends on who buys it.

State of play: Elba may join Marc Boyan, CEO and founder of Miroma Group, a TV and production company, on an estimated £1 billion bid, per The Sunday Times.

• But the pair may face a lot of competition. At least 25 buyers have expressed interest to JP Morgan, the bankers the U.K. government appointed for the sale, per The Sunday Times.
• Other bidders may include a consortium bid led by former Viacom executive Philip Bourchier O'Ferrall and other media companies such as Paramount, Comcast, Warner Bros. Discovery and ITV.

What's next: The plan and permission to sell Channel 4 is expected to come through parliament soon via a "Media Bill."

The bottom line: Elba "is a good fit for Channel 4, which has a remit to reach underserved audiences. The son of immigrants from west Africa, Elba, whose full Sierra Leonean Christian name is Idrissa, has long been an advocate for more diversity on screen." — The Sunday Times