Switched over; Television.(Television shakeup)(ITV)
Economist (US), The, October, 2003
Will shareholders have the guts to change ITV's management?
THINGS could hardly be going better for Charles Allen and Michael Green, the bosses of Granada and Carlton, the two companies that own most of ITV, Britain's biggest commercial broadcast television network. This week they heard from Patricia Hewitt, secretary of state for trade and industry, that they can merge--the biggest shake-up in Britain's commercial television history. Best of all, they will not have to direct their advertising sales houses.
Most people expected the Competition Commission to demand this; a united ITV, after all, would control over half of Britain's television advertising market. Instead it recommended a gentler remedy: ITV will be prevented from raising its prices to...
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