- ITV is planning an additional £30 million in cost reductions before the end of the year following an eight per cent drop in advertising revenues during the third quarter.
- Culture Secretary Lisa Nandy has intervened in Sky’s proposed £1.6 billion takeover of ITV’s media and entertainment division, ordering investigations by the CMA and Ofcom by 27 January.
- The broadcaster attributed the advertising slump to increased competition from streaming rivals, broader macroeconomic uncertainty, and new restrictions on junk food advertising.
- ITV chief executive Dame Carolyn McCall confirmed that content delays will account for £25 million of the savings, alongside £5 million in discretionary cuts, with no job losses planned.
- The takeover deal involves merging ITV’s terrestrial channels and streaming service ITVX with Sky, while its production arm ITV Studios will be spun off as a standalone listed company.
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