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| Version 0 | Version 1 |
|---|---|
| BBC chairman Grade moves to ITV | BBC chairman Grade moves to ITV |
| (10 minutes later) | |
| BBC chairman Michael Grade is to leave the public service broadcaster and move to its biggest terrestrial rival ITV. | BBC chairman Michael Grade is to leave the public service broadcaster and move to its biggest terrestrial rival ITV. |
| The move will be a blow to the BBC, where Mr Grade was steering it through complex licence fee negotiations with the government. | The move will be a blow to the BBC, where Mr Grade was steering it through complex licence fee negotiations with the government. |
| He was also due to head the independent BBC Trust that was to replace the Board of Governors and oversee the BBC. | |
| ITV has been looking for a new boss since Charles Allen left in August as the firm has seen advertising decline. | ITV has been looking for a new boss since Charles Allen left in August as the firm has seen advertising decline. |
| Steadying hand | Steadying hand |
| Robert Peston, the BBC's business editor, said that Mr Grade would take over as executive chairman of ITV on 1 January 2007. | |
| Mr Grade will run the company, and has committed to hold the post for three years. John Creswell will work with him as chief operating officer. | Mr Grade will run the company, and has committed to hold the post for three years. John Creswell will work with him as chief operating officer. |
| Analysts said that Mr Grade is a charismatic figure who can restore confidence in ITV and help the company attract advertisers. | |
| They added that Mr Grade was one of the few figures in the media industry with the experience and skills to take the helm at ITV. | They added that Mr Grade was one of the few figures in the media industry with the experience and skills to take the helm at ITV. |
| Question marks have hung over ITV's future since satellite broadcaster BSkyB bought a 17.9% stake in the firm for £940m. | Question marks have hung over ITV's future since satellite broadcaster BSkyB bought a 17.9% stake in the firm for £940m. |
| Earlier this year, ITV reported an overall 4% drop in advertising revenues over the past half year, while revenues at its key ITV1 terrestrial station fell 8%. |