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Article: Analysis: Fox favourite to bring his magic touch to top ITV job
- Article from:
- The Scotsman
- Article date:
- July 30, 2009
- Author:
CopyrightCopyright 2009 The Scotsman. Provided by ProQuest LLC. (Hide copyright information)
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SIMON Fox has been known to display his magic tricks at
management conferences, a skill that the chief executive of HMV may
have to call on if he is to turn around the troubled broadcaster ITV
after emerging as the preferred candidate to take over the top job.
Hammered by a rapidly deteriorating advertising market as well as
regulatory restrictions, ITV suffered the indignity of closing its
40-year-old Yorkshire Television studios in Leeds, scrapping its
final dividend and posting a pre-tax loss of GBP 2.73 billion when
it announced full-year figures in March. If that wasn't enough,
analysts say it is on the verge of taking a massive GBP 160 million
loss when it sells its social networking ...