ITV to cut costs by £30m amid falling advertising sales
Summary
ITV plans to cut costs by £30 million this year as advertising sales weaken. It expects advertising revenue in its television and streaming division to fall 5% to 10% in the final quarter, while its planned sale of that business to Sky remains under review by UK regulators.Key Facts
- ITV plans £25 million in content savings and £5 million in savings elsewhere; it said the measures would not involve staff cuts.
- The company expects advertising sales to fall 2% to 3% for the full year.
- ITV cited economic uncertainty, increased digital advertising on global platforms and new restrictions on ads for less healthy food as factors behind weaker demand.
- ITV shares fell by as much as 5% in early trading on Wednesday and had lost about a fifth of their market value since the start of the year.
- ITV agreed to sell its television and streaming business to Sky for £1.6 billion.
- UK Culture Secretary Lisa Nandy triggered a public-interest review of the deal, involving Ofcom and the Competition and Markets Authority.
- ITV said the sale was progressing as planned and was expected to complete in the second half of 2027.
- ITV’s studios revenue fell 1% in the first nine months of the year; the company said its studios made five of the UK’s 10 most-watched dramas in the third quarter of 2026.
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