Crozier cool on restarting ITV dividend

BROADCASTER ITV will keep considering the possibility of paying a dividend given its newly strong balance sheet, but investing in programmes is more urgent, its chief executive said yesterday.

Adam Crozier, who took over in April, said ITV needed to make more of its own content and technology to profit from coming web distribution channels such as Google TV, Apple TV or YouView in Britain.

ITV makes only 45 per cent of its own programming, or 17 per cent excluding soap operas Coronation Street and Emmerdale.

To cut costs, ITV ran down investments in content during the recession, buying in programmes and relying on mass-audience shows like the X Factor to attract advertisers.

“We have some investments we need to make, and we've been upfront about that,” said Crozier.