ITV Chief Executive Could Exit

ITV chief executive, Charles Allen, could be preparing to leave the broadcaster, as he addresses senior colleagues this morning amid rumours that he could retire shortly.

Allen could be set to leave ITV in an attempt to curb the broadcaster’s falling share price, which has dipped below 100 pence from almost 130 pence in March.

ITV1 is also suffering from much lower advertising bookings than it had last year, with its World Cup coverage and new series of Reality programme, Love Island, failing to bring in the viewers (see Love Island Struggles To Seduce).

Last month, ITV was estimated to be down £125 million in advertising revenue for 2006, compared with the previous year.

With its share price dangerously low, the pressure has mounted on Allen, who saw off a takeover bid for the broadcaster earlier this year and could face another.

ITV: 020 7843 8000 www.itv.com