09/11/2006

NTL expresses interest in ITV merger

Cable company NTL has expressed interest in the possibility of a merger with ITV.

Shares in ITV jumped 8% following NTL's confirmation of exploring a merger.

ITV has suffered a fall in revenue and viewer numbers in the face of strong competition from satellite offerings.

A spokesperson for NTL confirmed that the process was at a early stage and that there was no certainty that the discussions would lead to a deal.

ITV continues to operate without a Chief Executive as Charles Allen, who left earlier this year, has yet to be replaced.

This week NTL, which has been approached by a consortium regarding a takeover, announced a rebranding exercise as Virgin Media.

(SP/KMcA)

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