NTL Telewest has confirmed that it will shortly enter discussions with ITV regarding a possible merger of the two broadcasters.
In a statement released to the London Stock Exchange, the cable giant said: “NTL confirms that it has advised ITV of its interest in exploring a possible combination transaction and has scheduled an in initial conversation with ITV to that end. This process is at a very preliminary stage and there is no assurance that these discussions will lead to any offer being made for ITV.”
If successful, the move would lead to further speculation that former Ofcom chief executive Stephen Carter, himself formerly a managing director of NTL, would be the most likely candidate to head up ITV as its new chief executive. It would also create the UK’s largest broadcasting force, and help ITV with its advance into new digital territories.
Yesterday, the newly merged NTL Telewest and Virgin Mobile said that it was set to re-brand as Virgin Media in the first quarter of 2007, as it unveiled a third quarter operating loss of £9.6 million.
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