Richard Desmond buys Channel 5

Porn baron Richard Desmond has bought ailing Channel 5, Britain's other terrestrial channel for £103 million.

Dirty Des reportedly led his acolytes in a chorus of the Carpenters tune We've Only Just Begun after getting his hands on the the TV channel on Friday. He reckons he'll be ploughing money into the venture

"I'm delighted to have taken ownership of the network," Desmond said, "and I know with the right investment, drive and leadership it can go from strength to strength as a competitive broadcaster and a modern player for the digital viewer."

Desmond's company, Northern & Shell, owner of the Express newspapers and titles such as Asian Babes bought 5 from RTL, the European broadcasting group.

Desmond already beams a bunch of adult pay-TV channels into homes via BSkyB's satellite.

Desmond decided to put himself on the box immediately, telling the programme, Live From Studio Five: "We've bought Channel Five because it's a great station, as you know as viewers. We're not messing about with the programming. All we're going to do is add more programmes and put extra money on screen."