Channel 4 will spend £10m less on American acquisitions this year because they "no longer deliver value for money".

Head of programmes Julian Bellamy told reporters today that although acquistions such as Ugly Betty remain "important" to the sum total of Channel 4's schedule, American shows are now "less likely to offer a point of distinction" for the channel in the present British multichannel market.

Director of television and content Kevin Lygo added that "every small digital channel has one or two US shows", making American programmes in general "less special".

He added that competition among British broadcasters for American shows had pushed acquisition prices up, supporting comments he made last year in which he called the 2006 LA Screenings a "feeding frenzy".