According to a report in today’s Guardian, ITV chiefs Michael Green and Charles Allen are coming under increasing pressure to stand down if and when the merger of Carlton and Granada takes place.
Under the terms of the deal, thrashed out in October, it was agreed that Green, who heads up Carlton, would become chairman and Allen, the boss of Granada, would be made chief executive of the merged company.
However, there is apparently disquiet among investors as to whether the pair can satisfactorily work together. Nor has their role in the ITV Digital debacle been forgotten and it could be that one or both of the executives is asked to stand aside.
Shareholders have intimated that the management structure of a combined Carlton-Granada will require careful consideration but concerns abound that Green and Allen would rather scupper the deal than resign their posts.
More will become clear when the Office Of Fair Trading gives its verdict on whether the proposed merger will be referred to the Competition Commission. There is mounting speculation that the OFT director general, John Vickers will recommend a full-scale inquiry which could take upwards of six months to resolve.
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