anybody have thoughts on itv

Ofcom has announced the proposed terms of ITVs license renewal and as we had hoped the terms are favourable. The overall license cost falls from c175m under the old terms to c 77m under new proposed terms highlighting the perception that ITV is dealing with a benign regulator. We expect ITVs earnings to improve over the next few years enhanced by merger cost savings and the lower license fees and despite the strong rise in the share price since the beginning of the year we remain buyers of the shares.

This is now looking very good for a bid soon!