Richard Desmond, owner of Channel 5 – the UK home of Big Brother – has resigned from its board of directors as he seeks to sell the broadcaster.

Documents obtained by the London Evening Standard confirm thatthe 62-year-old tycoon stepped down at the end of December, alongside two other senior executives from his Northern & Shell media group.

The move backs up recent reports that Desmond – who also owns publications including The Daily Star and OK! Magazine – is seriously looking to offload C5, after it was revealed that aninformation package has been sentto prospective buyers.

Meanwhile, it’s also emerged that next Thursday, the 27th of February, has been set as a deadline for preliminary offers. There’s currently thought to be at least two interested parties.

Although rumours of a Channel 5 sale have been circulating since last year, Desmond’s intentions became clear in January whenhe appointed Barclays to adviseon the matter.

He is thought to be seeking around £700million – more than 6 times the £103.5million he paid for C5 in 2010 – although some analysts believe the figure is unrealistic.

The news has left Big Brother fans worried as it could affect the future of the show, with Desmond known to be one of its biggest champions.

Big Brother is currently contracted to run for only two more series – one civilian and one Celebrity – which will both air this summer.