With U.S. television shows failing to attract the huge audiences they once did, British network Channel 4 plans to cut its spending for U.S. TV productions by 20 percent over the next two years and use the savings -- about $70 million -- for home-grown product, the BBC reported over the weekend. Kevin Lygo, the network's director of content, said that it intends to be more discerning in selecting U.S. television productions in the future. "We will reduce both the volume we acquire and the amount we will spend," he said.