ITV shares lose more ground

TV's share price has dropped further today, after slipping below £1 towards the end of trading yesterday, heightening speculation that the tipping point for another takeover bid has been reached.

The broadcaster's share price was 97p at 4.20pm today, down 2.76% on yesterday's close of 99.75p.

ITV's share price has declined further than the market in general, with the FTSE 100 off 0.9% at around 4.30pm, on a day when reports emerged that its ad revenue projections for September could be down by up to 12% year on year.

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ITV's share decline represents continuing market fears over the broadcaster's seeming inability to address declining audiences and ad revenues, as well as the possible fallout from the impending ruling by Ofcom on curbing junk food marketing to children. ITV's share price - which stood at 148p at the time of its listing in February 2004 - last closed below 100p nearly two years ago.

Via the Guardian

Whereas the Guardian and the BBC I believe see the world now as their marketplace ITV has been stuck with a national audience.

Its business model of spot advertising obsolete.

ITV to cut costs as advertising revenues dip

ITV cuts programme budgets as advertising revenues plunge