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ITV to double spending on content ITV aims to be top UK entertainer
(about 1 hour later)
ITV boss Michael Grade plans to double the amount the broadcaster spends on content to £1.2bn by 2012. ITV boss Michael Grade has unveiled plans aimed at making the broadcaster the UK's favourite source of free entertainment by 2012.
The extra spending will be paid for by saving money throughout the business and selling non-core assets. It plans to double the amount it makes from its content to £1.2bn, but any extra spending will have to come from saving money throughout the business.
ITV plans to open negotiations with the regulator Ofcom about merging some of its smaller regional news services. The broadcaster plans to use more new talent, commission longer runs of programmes and seek joint commissions.
It has also set ITV.com a target of delivering £150m in revenue by 2010.
ITV plans to open negotiations with regulator Ofcom about merging some of its smaller regional news services.
Also, scandal-hit ITV Play's remaining call-in competition programmes, that are broadcast late at night on ITV1 and ITV2, are to be scrapped.Also, scandal-hit ITV Play's remaining call-in competition programmes, that are broadcast late at night on ITV1 and ITV2, are to be scrapped.
"Negative publicity following compliance problems across the sector has seen call volumes drop to uneconomic levels," ITV said."Negative publicity following compliance problems across the sector has seen call volumes drop to uneconomic levels," ITV said.
The ITV Play channel itself was taken off air in March after some of its competitions came under fire for being almost impossible to answer.The ITV Play channel itself was taken off air in March after some of its competitions came under fire for being almost impossible to answer.
Elsewhere in the business, Mr Grade has set ITV.com a target of delivering £150m in online revenue by 2010.
"By 2012, I want ITV to be widely acknowledged as the UK's favourite source of free, original entertainment across all popular platforms and devices, not just on television," Mr Grade said."By 2012, I want ITV to be widely acknowledged as the UK's favourite source of free, original entertainment across all popular platforms and devices, not just on television," Mr Grade said.
ITV said that trading is in line with expectations and that advertising revenues are continuing to improve.ITV said that trading is in line with expectations and that advertising revenues are continuing to improve.