Charles Allen, who, as CEO of ITV, is Britain's most powerful figure in commercial television, could be forced to resign within six weeks unless the company's financial situation improves, Britain's Guardian newspaper reported today (Tuesday), citing unnamed sources in London's financial district. The newspaper noted that ITV stock has failed to rise in recents months and that advertising revenue has not picked up despite huge ratings for the World Cup soccer telecasts. The newspaper said that August 9, when ITV announces quarterly financial results, could become Allen's "D-Day." The paper quoted a source as saying, ""People acknowledge it's a tough job but they are not convinced that what ITV is currently doing is likely to create substantial value. I don't think that Charles himself convinced people that he has a strategy for that. The pressure is on - even though people acknowledge how difficult it is."




27/06/2006