ITV Shares Slide Despite Commercials Success

26 June 2008

LONDON: The UK's biggest commercial broadcaster, ITV, appears to be turning a corner in its battle to win back viewers, but its on-screen success is failing to convince investors.

Its share price sank to an all-time low yesterday (Wednesday) of 48.6 pence ($0.95; €0.61), despite the broadcaster welcoming an increase in its share of commercial impacts - from 30.2% in April to 31.9% in May.

Its main commercial rival, Channel 4, on the other hand saw its share fall from 12.6% in April to 11.5%, and Five's share went down from 9.1% to 8.5%.

Meantime, Scottish commercial television franchise holder SMG is to change its name to STV Group.

The company is to focus entirely on its TV interests following the sale of its Virgin Radio licences to Indian media company Bennett Coleman and last year's disposal of Primesight outdoor advertising business.

Data sourced from Financial Times Online; additional content by WARC staff