The BBC has lost the right to air hit show The Great British Bake Off after negotiations collapsed over money.
Instead, the production company behind the programme, Love Productions, has signed a three-year deal for the programme to be shown on Channel 4.
The first programme, a version of Celebrity Bake Off, will come in 2017.
Love Productions said that year-long negotiations had collapsed after a last-ditch meeting with BBC executives on Monday and confirmed that they had signed a new deal with Channel 4 the same evening.
Channel 4 is understood to have offered more money for the brand following the breakdown in talks with the BBC.
Negotiations to secure the show’s stars, such as presenters Mel Giedroyc and Sue Perkins and judges Paul Hollywood and Mary Berry, have not yet begun, according to BBC media correspondent David Sillito.
Jay Hunt, Channel 4’s chief creative officer, said: “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.”
Richard McKerrow, Love Productions creative director, said: “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.”
In a previous statement, Love Productions thanked the BBC “for the role it played in making this show such an enormous hit” and “the faith they showed in us over the years to develop it”.
The BBC said: “Working with Love Productions, we have grown and nurtured the programme over seven series and created the huge hit it is today.
“We made a very strong offer to keep the show but we are a considerable distance apart on the money. The BBC’s resources are not infinite.”