ITV shareholders concerned about potential costs of hiring Ball
It is understood that some ITV shareholders are concerned about the potential costs to hiring former Sky chief executive Tony Ball as its next chief executive.
Ball reportedly favours a rights issue and financial restructuring of ITV and is thought to have won support from a small number of ITV shareholders.
However, there are concerns that it will cost up to £500 million to turn the broadcaster’s fortunes around, as well as giving Ball, currently the chairman of Kabel Deutschland, a lucrative pay package.
US headhunter Russell Reynolds Associates is leading the search for a chief executive and Ball is the only candidate who has talked to ITV shareholders directly.
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