ITV to cut costs by £30m — The Guardian
In the United Kingdom, broadcaster ITV plans to cut costs by £30 million in 2026 due to declining advertising revenue. As The Guardian reports, £25 million in temporary savings will come from content production, with another £5 million from other areas of the company’s operations.
Forecast for advertising decline
ITV expects advertising revenue at its television and streaming division to fall by 5–10% in the final quarter of the year, although this period is usually busy due to the Christmas season. For the full year, the company forecasts a 2–3% decline in advertising sales.
The reduction in the content budget will mainly affect small commissions to external producers, which, according to the publication, may be postponed until 2027. ITV said that the planned savings do not involve staff cuts.
ITV chief executive Carolyn McCall linked weaker demand for advertising to macroeconomic uncertainty, as well as the growth of digital advertising on global streaming platforms. She also mentioned new rules that restricted television advertising for less healthy products before 9 p.m.
More current news is available on the UA.News Telegram channel Telegram.
Sale of business to Sky under regulatory review
ITV has agreed to sell its television and streaming business to Sky for £1.6 billion. The company said the deal is progressing as planned and is still expected to be completed in the second half of 2027. After the sale, ITV will retain its studio division, which produces programmes for broadcasters and streaming services.
Last week, Culture Secretary Lisa Nandy issued a public interest intervention notice, which prompted a review of the deal by regulator Ofcom and the Competition and Markets Authority. Nandy expressed concern that the combined broadcasters could account for around 86% of viewing of linear news and current affairs programmes in the United Kingdom. Sky is owned by the US company Comcast.
ITV shares fell 5% at the start of trading on November 11, and the company has lost about a fifth of its market value since the beginning of the year. At the same time, revenue at the studio division fell by 1% in the first nine months of the year.
