OFT clears Project Canvs

Breaking: The Office of Fair Trading has reportedly said Project Canvas does not qualify as a merger.

This leaves the initiative freer to progress (although it still needs final approval from the BBC Trust for the BBC’s  continued involvement) having by-passed one big potential regulatory hurdle.

More as the OFT’s findings are published on their site.

Update: 15.47 - OFT’s media release is here. The key reason for their decision:  none of the partners are contributing an existing business to the venture.