Five has quit the scheme of Project Canvas, which was planned for the development of an internet-connected TV set-top box.

The channel has been put up for auction by parent company RTL and it is evaluating its digital strategy.

Now the project is no more important for the channel. Its share of the £16m plan is expected to be funded by the associates including the BBC, BT, ITV, Talk Talk and Channel 4.

Last month, The BBC Trust agreed for the Project Canvas saying it offered license fee payers a significant public value.

The service will see a variety of set-top boxes obtainable to access on-demand TV services such as the ITVplayer and BBC iPlayer.

According to the Director of Strategy at Five, Charles Constable, the channel would carry on to support the aims of Project Canvas.

"Despite withdrawing our interest in the venture we believe it will be a critical part of our strategy for reaching consumers in the future," Charles added.

Director of Project Canvas Richard Halton said Five had offered an outstanding support.

Mr. Halton also said that associates like BBC share their aim of getting the benefits of internet-connected TV to all. The channel is now looking forward to work with them as a content supplier to the platform in the future.