CRR

RNS Number : 0560Z

ITV PLC

15 September 2009

 



15 September 2009

ITV plc

Response to Competition Commission Review of ITV's CRR Undertakings 

ITV welcomes today's provisional report from the Competition Commission and its recognition of the case for the reform of CRR.

Today's report acknowledges that 'there have been significant changes to the television industry since 2003' and explains that the Commission will now 'examine possible variations of the undertakings to take account of the changes that have occurred.'  The report also acknowledges the changes in ITV's market position and the fact that the SOCI ratchet and the right of rollover for contracts have had unintended consequences. 

ITV has argued that the advertising market has been transformed since the introduction of CRR.  With the uptake of digital broadcasting the number of multi-channel households has more than doubled from 42% in 2002 to over 88% by the end of 2008. This means ITV1's airtime is now substitutable and that the market can self regulate.

Michael Grade, Executive Chairman of ITV plc, said: 'We look forward to engaging with the Competition Commission over the next three weeks to identify which post-CRR option best serves the interests of ITV plc, its viewers and advertisers.'

He added: 'We would like to put on record our appreciation of the time and effort the Competition Commission has put into this review to date and we look forward to the completion of the review in time for the upcoming deal season.'

-Ends-

Enquiries:

Media

Ruth Settle          Director of Corporate Communications    07946 346698    

Louise Evans      Head of Corporate Communications        07825 680994    

Investors 

Christy Swords    Director of Investor Relations                  07881 505783  

Pippa Foulds        Head of Investor Relations                      07826 531887

 

END

 

 

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