ITV Demoted from 'Top 100' List of UK Listed Companies

12 September 2008

LONDON: The prestigious FTSE 100 index of the UK's top one hundred publicly listed companies is to drop the nation's largest commercial broadcaster, ITV, as of 22 September.

The decision reflects the continuing lack of investor confidence in the broadcaster, despite a surge in audience numbers.

In more benign times this would be accompanied by a concomitant rise in ad revenues, but an industry-wide excess of inventory means that rates for TV ad slots are experiencing an ongoing decline.

ITV's expulsion from the list, on which it has figured since its creation by merger four years ago, was triggered by a fall in its market value - likely to be further exacerbated by its ejection from the index. 

The broadcaster is not alone.

Europe's largest cellphone retailer Carphone Warehouse, hospitality group Enterprise Inns and Ukrainian iron ore miner Ferrexpo are also facing ejection as a result of the latest quarterly revaluations.

Data sourced from BBC Online (UK); additional content by WARC staff