ITV ad slump deepens amid £1.6bn Sky deal probe Media ITV has warned of a sharper-than-expected slump in advertising revenue and announced £30m in fresh cost savings, as its £1.6bn sale to Sky faces a government investigation. The FTSE 250 broadcaster said on Wednesday that advertising revenue fell eight per cent in the third quarter, worse than its previous forecast of a five per cent [...]
Government intervenes in Sky’s £1.6bn ITV takeover Media Culture secretary Lisa Nandy has formally intervened in Sky’s £1.6bn takeover of ITV’s broadcasting business after raising concerns over its impact on media competition and the diversity of British news. Nandy confirmed on Wednesday that she had issued a Public Interest Intervention Notice (PIIN), instructing the Competition and Markets Authority (CMA) and media regulator Ofcom [...]