ITV must now be a bargain. The current team clearly are an issue but you'd think the big American companies would recognise the bargain.

The yield is also high and can be reinvested. That really does limit the down side. You can even win here if it drops further!

Well its the library which I think could really change ITV's fortunes. I must admit to getting abit worried this morning though but at least a good turnaround this afternoon.
Di

Dynamite- The market generally is a little unsettled with interest rates on the rise but, I believe in the saying that there is not a stock market but, a market of stocks. Trying to calculate short term moves is difficult, but like you I think there is some good value in this one, if given a chance. There are many large interested parties around this one for this not to be the case.

Virgin would love to get their hands on itv, so would alot of others, the content/programming and ip that itv has is probably worth a lot of money to the right predator, I think 200p is not unreasonable for itv and it could be worth a whole lot more especially if they turn predator, then that would be something!

ITV plc AGM Statement 17 May 2007



Stabilising the core business and investing for growth



The clear imperatives for management are to improve the performance of the ITV1
schedule and explore the opportunities that exist for the business, while
addressing some of the regulatory constraints. The progress we have made to
date is encouraging, the rate of decline of ITV1 SOCI is stabilising and our
digital channels continue to perform well. The total TV advertising market is
less volatile than last year. We are also creating opportunities to increase
distribution of ITV's valuable content both online and on digital broadcast
platforms. We are currently engaged in a wider review of the allocation of
resource within the Company to maximise future growth prospects in the medium
term. We will update the market on this review by the Autumn.



In March of this year, we were the first company to introduce an independent
review of our premium rate telephone services (PRTS) so that we could ensure
fair and transparent interactions. All our current programmes have been cleared.
However, the poor execution of these services across the sector has reduced
consumer confidence and is having a material impact on PRTS revenues. ITV is
committed to publishing the findings of the current independent review of PRTS
in ITV programming.



Advertising revenue

In the first quarter of 2007 we identified that total UK television advertising
revenue had stabilised, and this trend has continued. Total UK television
advertising for the six months to June is flat compared to the same period last
year. ITV1, affected by the contract rights renewal (CRR) remedy, is down by
9.6% over the first half of 2007, whilst ITV plc total advertising revenue is
down by 5.7%.



Channel ratings and production

Over the first 17 weeks of 2007 to 29 April, the ITV family of channels
(including GMTV) achieved a viewing share in multichannel homes of 21.9% which
was slightly ahead of the same period in 2006. In all homes the continuing,
rapid take-up of digital multichannel television resulted in the ITV1 adult
share of commercial impacts (SOCI) being 6.2% down at 32.6% over that period,
whilst the corresponding period in 2006 had been down 10% on 2005. The growth
in SOCI of our digital channels over the first 17 weeks of 2007 was 18% and the
ITV family of channels overall was down 3.8% at 41.7%.



In our US production business we are delighted to have agreed the acquisition
for 2.9 million of a 51% controlling interest in Jaffe/Braunstein Entertainment
LLC, a highly respected and critically acclaimed Los Angeles-based producer of
scripted telefilms and mini-series.



In early 2007 we concluded that the level of revenue being generated by our ITV
Play channel did not merit its continued operation. We therefore decided to
close the channel whilst continuing with ITV Play programming during the night
on ITV1 and ITV2. Immediately following concerns being expressed about UK
television quizzes and game shows incorporating premium rate telephone services
(PRTS), we announced on 5 March that we were reviewing all of our activity to
ensure that ITV delivered quizzes and game shows in a fair and transparent
manner for our viewers' enjoyment. That review has now cleared all our current
output and we have strengthened our procedures to comply with or exceed the
provisions of the code issued by the premium rate telephony regulator, ICSTIS.



The level of revenue now being generated by ITV Play is running at a significant
reduction to 2006. Other PRTS revenue is down by approximately 20% in March and
April and concerns remain about when consumer confidence in this area will be
restored.



Carlton Screen Advertising (CSA), our cinema advertising business, has had a
slow start to the year and we expect CSA to be in loss again this year.



ITV.com

On May 1 we held a press launch for our new broadband offering, ITV.com, which
we are confident will be the most comprehensive web site offered by any UK
commercial broadcaster. ITV.com will provide an attractive free service to
consumers and compelling online opportunities for our advertisers. ITV.com
launches to consumers this summer and will offer live streaming of ITV's
channels, a 30 day catch-up service and a 'best of ITV' archive. Our regional
broadband TV service, ITV Local, has been extended to the London and Central
regions and now covers 45% of the UK population.



Freesat

In April ITV announced that it would be establishing a joint venture company
with the BBC to launch a Freesat service in Spring 2008. Freesat will
complement Freeview in driving the take-up of free-to-air digital services.



Regulatory issues

On 27 April both the Office of Fair Trading (OFT) and Ofcom announced their
reports on the purchase by BSkyB in November 2006 of a 17.9% shareholding in ITV
plc. Those reports identified issues which both regulatory bodies consider
should be reviewed further and a decision on a potential reference by the
Secretary of State at the Department of Trade and Industry to the Competition
Commission on public interest grounds is expected by 26 May. ITV will
co-operate fully in any regulatory process.



Michael Grade, Executive Chairman of ITV plc, said:



'I'm encouraged by the progress we've made so far this year, but there is still
a great deal more to do. We are taking steps to stabilise our core business and
ensure future growth by reviewing the best allocation of our current resources.



'In recent months we have managed to slow the rate of decline in SOCI and
viewing share on ITV1 as we begin to see new programming from our commissioning
team delivered on-screen. In addition, we've made some key acquisitions to
strengthen our schedules, such as the FA Cup and England rights from 2008,
secured long-term deals with major talent such as Ant and Dec and Simon Cowell,
and are extending our contract with ITN for news. The relaunch of ITV.com will
help to ensure that ITV continues to grow its share of increasing online
revenues.



'The Board takes the PRTS issues very seriously and is committed to publishing
the findings of the current independent review of PRTS in ITV programming.



'Encouragingly the airtime sales market appears less volatile than last year,
and we remain firmly focused on the needs of our viewers and advertisers. Our
goal is to create long-term value for our shareholders by exploiting our content
on an expanding number of media platforms, both in the UK and internationally.'

SP 119p after AGM statement shown in previous post.

What's happening now?

Don't know JRM I was just wondering the same

In London today, ITV gained nearly 6 pct, or 6.6 pence to 121.1, amid rumours that BSkyB had sold its 17.9 pct stake in ITV to Germany's RTL which raised the prospect of a possible bid for the commercial station.

Last year, cable TV operator NTL approached ITV about a merger, while Germany's RTL has made no secret of its interest in acquiring the station. Previous press reports had linked Europe's largest broadcaster, owned by German media firm Bertelsmann, has been considering a possible 5 bln stg bid for ITV.

23rd May 2007

Dawn Airey to join ITV as Director of Global Content

ITV today announced that Dawn Airey will join ITV as Director of Global Content.
In this role she will be responsible for developing ITV's UK and international
production, distribution and content exploitation businesses.

Dawn will report to John Cresswell, ITV's Chief Operating Officer and will take
up the post later this year. ITV Productions, Granada Ventures, Granada
International and ITV's international production businesses in Australia,
Germany and the US will report into her. Together, these businesses generated
652 million revenue in 2006, including 370 million of internal sales to ITV.

Of her appointment John Cresswell said:

'This is great news for ITV and a great job for Dawn. I'm delighted she's
joining us to build the content business which continues to be at the heart of
our growth strategy.'

Dawn Airey said:

'It's wonderful to return to my alma mater. It's an incredibly exciting time to
be joining ITV and I'm looking forward to working with some of the UK's best
production talent. Together with John Whiston and his creative team, I'm
confident that we can deliver the programmes and content that Simon Shaps and
his commissioners want in order to continue the reinvigoration of ITV1. ITV
has strong and growing international production and distribution businesses and
I'm thrilled about having the opportunity to help develop them further.'

Michael Grade, Executive Chairman of ITV plc, said:

'Dawn's arrival significantly strengthens the senior management team. She is a
dynamic, creative business leader and I know that everyone in ITV will welcome
her arrival.'

John Whiston, Director of ITV Productions, said:

'I'm delighted and enthusiastic about Dawn's arrival. It signals that ITV is
putting content right at the heart of what it does. It will require some serious
firepower to take Production to the next level both nationally and globally.
And they don't come much fierier than Dawn!'

Guscavalier comment: This announcement has probably helped sentiment demonstrating management intention to place a priority on content. Get that right and the rest will follow.

I am not sure that BskyB is that eager to sell its stake in ITV at this stage given the ongoing review. Still, the sp is only back to the level reached fairly recently having drifted for a time. Good and interesting recovery play.

BSkyB stake restrictive
MoneyAM
The UK Competition Commission has given an initial reaction to BSkyB's purchase of its ITV stake.

The CC has provisionally found that BSkyB's purchase of a 17.9% stake in ITV last year restricts competition and therefore operates against the public interest.

The stake buy, which effectively stymied an attempt by cable operator Virgin Media to buy ITV, was referred to the Commission in April by the Office of Fair Trade and the media and telecoms regulator Ofcom.

The commission today found that the stake 'would be likely to lead to a substantial lessening of competition by giving [BskyB] the ability to influence ITV's strategy.'

In particular, the commission was concerned that it could influence key investment decisions either in content, capacity or technology.

BskyB is the leading Pay-to-view operator in the UK and faces competition from free-to-air TV, including ITV.

The commission said BskyB would have both the ability and the incentive to take steps to weaken ITV or 'prevent it from taking actions that would threaten BSkyB's interests.'

The stake buy also raised concerns over media plurality, which requires that there are enough different voices and outlooks in the media to provide a range of views.

However, the commission found that the acquisition will have no adverse effect on the sufficiency of plurality and that BskyB's stake would not affect how ITV operates as a news provider.

It also does not believe the stake caused competition concerns in other areas, like advertising and news.

BskyB, in a statement in response to the findings, said it will continue to engage with the Commission during the remainder of the process.

The commission must send its final report to John Hutton, Secretary of State for Business, Enterprise & Regulatory Reform, by January 2nd, although it intends to do this in December.

He will then decide on the basis of the report what action to take.

Hutton is required to accept and remedy the commission's ruling on the substantial lessening of competition, but he is not required to take the recommendations of the commission.

The commission is now in talks on possible remedies, and may recommend forcing BskyB to sell down its stake, but the secretary of state can choose to take whatever action he sees fit

World Cup Rugby fever should boost revenues with the latest win over France, another bull point, added to Michael Grade tenureship, BskyB forced selling for possible takeover and solid divi.

Bought in this morning on recent weekness. I would add F1 to that list though Falcothou, a lot of people are watching this poor sport now thanks to hamilton and I believe ITV have the rights for 3 years which should maintain solid advertising streams.

yes, probably a good opportunity to buy at these levels (around 103p) . Looks to be interesting times ahead.

Charles Allen, the former chief executive of ITV, has been appointed as a senior adviser to the private equity arm of Goldman Sachs and will take a seat on the board of the main European television producer Endemol, which may revive ITV bid talk

At this price bids go to come sooner rather than later, wont be no where near 1.45 mentioned on here though, reading the press coverage there are quite a few in the running. Anybody would be nice !!

The problem for ITV is there is no need to do anything, except at the right-price. If Endomol wanted their own channel they'd need a lot more material and with that the quality is bound to suffer, with deadlines etc. Therefore, they'll need to invite all-commers who may be dubious about giving a rival their ideas, months in advance.
Currently abt. 39p; - Ch4 has just told the Market they are to drop their Radio channels - due to lack of advertising, esp as companies cut expenditure. So I don't see any t/o very attractive for ITV shareholders at the moment.
EDIT(6Mch09):- just 18p now - no sniff of profits seems to worry investors....
EDIT-(6Jy09)- nearly 40p, plans to sell FriendsUnited for a fifth what they paid - looks dumb.

Rising on potential promotion to FTSE 100.

Taken up a long positon here on push through 51p resistance.

As skinny points out we should see strength on the potential rise up.

Also in on that spike down @ 48.4

Yep a little dissapointing the small fall today splat, but Im sticking in I think all the TA is pointing to a breakout especially ADX trending at around 50 !!!!!!.