Much recent talk has centred on the future of ITV given that both Sky and Ntl seem to have plans for the the broadcaster, which seems to have been in decline for some years.
BSkyB shocked the British media scene by snapping up 17.9% of ITV shares on Friday for £940million at a time where there has been much speculation as to the future of the tarrestrial giant.
Today, ITV rejected merger proposals with Ntl (Richard Branson, owner of the Virgin Group, is its largest shareholder) stating that the offer "materially undervalued" the company. These proposals had been put forward before the Sky purchase and was shown to value the ITV shares some 30p cheaper than the Sky offer. This lead to criticism of the power of Murdoch by Branson and the indication that OFCOM may launch a probe into the fairness of the Sky/ITV deal.
ITV is the UK's largest commercial broadcaster offering free-to-air services
However recently ITV, like Branson and his Virgin empire, has been badly hit by a fall of advertising revenue as well as a fall in viewing figures and market share.
Earlier in the year, other private equity groups were reported to be preparing a bid for ITV. ITV is also currently without a Chief Executive.
Regardless of what we as individuals may think of Murdoch, Branson, Sky and Virgin/Ntl, it surely upsets us all to view the decline of this broadcaster. One which, at the end of the day, did so much to entertain us all as children by broadcasting the original Knightmare run...
Your thoughts?