Britain's largest commercial television network, ITV, saw advertising sales dive 9.5% in March, according to the latest report from Optimedia. Ad revenues fell to £158.5 million during the month, while the picture for April is bleaker yet with the year-on-year plunge widening by 14% to £182.8m.
Meanwhile, Carlton Communications, one of the duo dominating the ITV network (alongside Granada Media), saw its shares fall 29p to 395p after Neil Blackley – a media analyst at Merrill Lynch – activated his extra-sensory perception to downgrade his pre-tax profits forecast for the broadcaster.
Opined the oracle: "We are expecting a 15% fall in the second quarter and 8% growth in the third, making a 5.5% fall for the year."
Other members of the ITV consortium were not similarly affected by Blackley’s prescient musings.
News Source: CampaignLive (UK)