‘All change’ at ITV

[khurramdar]

‘All change’ at ITV
Written by Chris Forrester
Thursday, 07 January 2010 10:20

UK commercial network ITV has had a tough couple of years. A New Year message to staff from new chairman Archie Norman promises “no change is not an option”.

ITV’s share price remains in the doldrums, and despite some strong ratings winners towards the end of last year (including a record-beating X-Factor), new man Norman has told staff that ITV must be recreated.

“We need to be a very different business in three years' time. Our objective is to recreate the business so it can not just survive but prosper in the new media world. Therefore, we are now embarking on a programme to accelerate the transformation of ITV. As part of this I will, together with the executive team, be launching a strategy review this month to define the journey ahead.”

Norman was previously CEO at food retailer ASDA (the UK arm of Walmart) and joined ITV only on Monday.

A decision on whether BSkyB can maintain its 17.9% shareholding in ITV is expected any day now.

© Rapid TV News 2010