Alex Mahon, CEO of Channel 4, told the Culture, Media and Sport Committee today that the broadcaster is considering using its emergency £75 million debt facility after an advertising “market shock”. Channel 4 is owned by a public corporation controlled ultimately by the DCMS, and its revenue is set to fall by 8-9%, a more than the 6% previously forecast. The sharp downturn in advertising on the channel means the broadcaster is thinking of relying on its financial backstop for the first time in its history. Mahon said she “doesn’t forsee” the need to rely on “state subsides” in the future, despite the fact streaming views were down a whopping 10% last year. Clearly Bake-Off isn’t enough to entice viewers…