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ITV in complete chaos

After the most turbulent period in the history of ITV, things got worse today with news that Chairman Michael Grade, brought in as the saviour just a while ago, will be leaving the company in the short term. He is said to be in dispute with the rest of the ITV board regarding attempts to recruit former chief executive of BSkyB, Tony Ball.

Aside from the fact that Tony Ball's wage demands, which were thought to be in the region of £42 million over five years, were leaked to the press it seems ITV was only willing to offer £25 million. As a consequence, and against the wishes of Michael Grade, it looks as though the bid to bring in the ex-BSkyB man is now doomed to failure.

There was a feeling that Tony Ball would have moved ITV towards the subscription route and taken away the dependence upon advertising which has literally crippled the company since the Internet took over and the recession hit home. It will be interesting to see how ITV recovers from this particular setback as many people believed the company was well positioned for the future. Is ITV now more of a takeover candidate than ever before or will the company battle on as an independent?

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