GMTV won the licence for the breakfast Channel 3 franchise from 1993, outbidding the previous licence holder, TV-am, in the 1991 franchise round for £34 million. The station was backed by LWT, STV, Disney, and the Guardian Media Group. GMTV promised a 'cheerful morning and with more information' - termed the 'F-factor'. A new children's news bulletin was to be broadcast at 7:20 am every morning, while at 8:50 am during the week, a new female-led format was also planned. Carlton bought a 20% stake in the consortium in November 1991. GMTV was originally intended to be called 'Sunrise Television', but as Sky News' breakfast programming also went by that name (and did so until 2019), Sky protested, resulting in the change of name.