Sky extends Five News deal

Sky and Five have extended their news provision agreement until 2012, it has been announced.

Five News has been produced by Sky since January 2005, replacing ITN as the channel's main news provider.

"We are delighted to be extending the Sky News contract until the end of 2012," said a Five spokesperson. "This new contract will continue Five's successful relationship with Sky, which has seen ratings for our main evening programme at 5pm increase by more that 50% in the past year."

According to The Guardian, cost reductions in the form of job cuts are expected to take place as the contract extension comes into force.

"In the current economic climate it is necessary to make cost savings which may include a number of redundancies at Five News," a spokesperson told the paper.