Channel 5 has struck a deal that will see an extra series of Celebrity Big Brother air later this year.

The broadcaster entered into a £40m agreement with Big Brother’s production company, Endemol, in 2011, which saw the reality show move from Channel 4 to Channel 5.

The deal originally included one series of Big Brother and one of its Celebrity counterpart per annum, and the contract is set to expire after the conclusion of Big Brother this summer.

But according to MediaGuardian a new agreement has been reached that will see Big Brother shortened from its customary 14 weeks to just ten weeks and three days, in order to make room in the schedule for another run of CBB.

It is unclear whether Channel 5 has paid Endemol any additional fee to secure the extra series.

Big Brother has earned Channel 5 very respectable ratings since it was revived, regularly pulling in audiences of 2m viewers a night.

The final of January's series of Celebrity Big Brother, which was won by Loose Women star Denise Welch, was watched by 3.1m people.