UPDATED: The Great British Bake Off leaves the BBC, Channel 4 agrees three-year deal for the show
LATEST UPDATE: Channel 4 has agreed a three-year deal. Here's the official statement from Jay Hunt, Channel 4's Chief Creative Officer.
"Channel 4 is very proud to be the new home for The Great British Bake Off. I'm delighted we have been able to partner with the hugely talented team at Love Productions to keep this much loved show on free-to-air television" - Channel 4
The bad news is that we might not get a full series next year as part of the transition, though there will be a celebrity version, in aid of Stand Up to Cancer in 2017.
Richard McKerrow, Love Productions Creative Director, also made the following statement:
"We believe we've found the perfect new home for Bake Off. It's a public service, free-to-air broadcaster for whom Love Productions have produced high quality and highly successful programmes for more than a decade.
"It's tremendously exciting to have found a broadcaster who we know will protect and nurture The Great British Bake Off for many years to come." - Love Productions
FIRST UPDATE: Shortly after the news broke this tweet suggested that Channel 4 had picked up a three-year deal...
And here's the original story......
The current series of The Great British Bake Off will by the BBC's last with ITV looking set to swoop in and pick up the show. The contract to renew the series has been in negotiations for more than a year, but a deal could not be reached.
In an email to staff at Love Productions who make the show, the following statement was made:
""We are writing to let you all know that, with deep regret, after more than a year of exhaustive negotiations we have been unable to reach an agreement with the BBC for the renewal of The Great British Bake Off.
"We feel it is very important to let you all know as soon as possible because there has been a lot of inaccurate reporting in the media about the negotiations and we want you to be aware of the main facts.
"We are really saddened by this outcome because we always wanted to stay on the BBC. As recently as June we were convinced that was what would happen. This has never been about who might write the biggest cheque, but about where we can find the best home for Bake Off.
"Unfortunately we were unable to agree either a fair valuation, and nor were the BBC able to provide the necessary comfort for the future protection of such a distinctive and much-loved television series." - BBC
The Great British Bake Off currently receives more than 10 million viewers each week and will be a huge loss to the BBC. ITV have previously poached The Voice, but this will surely be their biggest acquisition from the Beeb yet.
In the meantime you can continue to follow our weekly live blogs with Amy Jones and reviews with Omar Soliman.