 The chief executive is appointed by the chairman, which is a part-time position appointed by Ofcom.Channel Four's total revenue for the year to 31 December 2005 was £894.3 million, of which £735.2 million was generated by its main channel, and the remainder by its subsidiaries channels, sales of programming rights to other broadcasters, Film Four, and "new media".Operating profits for the year to 31 December 2006 fell 70% to £14.5 million from £56.9 million in 2005.