Charles Allen Prepares To Step Down

ITV chief executive Charles Allen could announce his departure from the broadcaster as early as next week.

Allen is currently negotiating the final terms for his exit, with ITV wanting him to stay on until a successor is found.

Allen has been under pressure following a poor summer for ITV, with viewing figures (see Love Island Struggles To Seduce) and advertising revenue both declining (see ITV Ad Revenue To Tumble).

The constraints posed by the contract rights renewal scheme (CRR), which was negotiated with regulators by Allen, have also exacerbated the problems facing ITV (see ITV Chief Exec Slams CRR).

Robert Preston, BBC business editor, said: “ITV now needs to go back to regulators to ask for the deal to be changed, but Mr Allen may not be the best person to renegotiate – that’s why ITV’s board thinks it needs a new chief.”

However, ITV has been engaged in diversifying its revenue streams, making investments in online (it purchased the Friends Reunited website last year) and recording a 175% increase in interactive advertising revenue (see ITV’s Interactive Advertising Revenues Increase 175%).

Favourites to take over from Allen are Sky’s Dawn Airey, Stephen Carter, formerly of Ofcom, and Andy Duncan, chief executive of Channel Four.

ITV: 020 7843 8000 www.itv.com