Ofcom's recommendations to the government on the future of public service broadcasting could make major changes to the industry.
Five's Chief Executive, Dawn Airey, has responded to Ofcom's ruling by noting its pleasure that its public service role has been mentioned, but admitting it has been left bemused by talk of its regulatory assets.
Five is the newest of Britain's public service broadcasters. Although there are recommendations from Ofcom for its future, everything could change if the much-speculated merger with Channel 4 goes ahead.
The BBC was given a hefty pat on the back by Ofcom's latest advice on the future of public service broadcasting.
Channel 4 will face a major upheaval if Ofcom's Public Service Broadcasting recommendations are used by the government.
Should Ofcom's recommendations be acted on by the government, they will change the face of the traditional television channels in the coming years.
Ofcom has unveiled its vision for the future of public service broadcasting, essentially clearing a path for a Channel 4 partnership with either Five or BBC Worldwide.