Charles Allen, chief executive of ITV, has announced that the group plans to sell off some of the non-core business units as part of an efficiency drive.
The non-fiction book publisher, Carlton Publications, will be the first to be put up for bidding, along with the Moving Picture Company, which created visual effects for blockbuster movies such as Harry Potter and Tomb Raider.
At the Group’s AGM in April, chairman Sir Peter Burt said, ITV was on track to achieve cost cuts of £100 million by the end of 2005 (see ITV Chairman ‘Satisfied’ At First AGM), with savings being met faster than planned.
Last week ITV announced that its multi-channel revenue target for the next three years has been set at £150 million (see ITV Revenues Up As Next Three Year Targets Unveiled).
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