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28/09/2009

ITV Boss's Pay Deal Refused

After a £30m salary demand by former Sky boss, Tony Ball, stymied negotiations for him to join ITV as its new chief executive, the broadcaster's board is looking elsewhere.
They are reported to have begun urgent talks with Sir Crispin Davis, the former boss of Reed Elsevier, and Sir Michael Bishop, the airline entrepreneur who chaired Channel 4, in an attempt to accelerate the appointment of a new Chairman.
Davis and Bishop are the frontrunners, although Sir Christopher Bland, the former chairman of the BBC and BT, and Martin Broughton, chairman of British Airways, have also been approached.
ITV is currently 'rudderless' after talks broke down with Tony Ball, the former Sky boss, who had been chosen as the new Chief Executive.
Executive Chairman Michael Grade wanted to leave at the same time, so the search for a Chief Executive is even more important as the new Chairman's first job will be to choose a new Chief Executive.
Initially, Ball was chosen to be ITV boss almost two weeks ago, but fell out with the directors over his pay demands of more than £30m.
The broadcaster needs action however, as it suffered a £105m loss for the first six months of the year in August after falling advertising revenues hit the company hard - making such pay demands seem unrealistic.
See: Search For ITV Boss Stalls Over Pay
(BMcC/KMcA)
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