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.
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).