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ITV makes a return to profit
3 March 2010 11:13
Broadcaster ITV has announced that it is back in the black, recording pre-tax profits of £25 million for 2009.
The company put its turnaround down to cost-cutting measures and growth in its share of the television advertising market.
In 2008, ITV made a loss of £2.7 billion as advertising revenues slumped.
The news comes as Adam Crozier prepared to take up his post as chief executive of the broadcaster on April 26th.
Chairman Archie Norman said ITV will become "a very different business" under Mr Crozier's leadership.
"ITV's challenge is to reduce its dependence on a free-to-air model threatened by digital media and besieged by legacy regulation," he remarked.
His comments may be welcomed by those seeking media jobs with ITV, as they could signal the opening of new job opportunities in the future.
Meanwhile, the BBC has been making cuts in an effort to streamline its services and improve the quality of its offerings.
It has decided to axe two of its radio stations and cut spending on its website as part of a plan to divert £600 million a year to quality content.
Posted by Gemma Roskell
For the latest corporate sales jobs from pfj, click here
The company put its turnaround down to cost-cutting measures and growth in its share of the television advertising market.
In 2008, ITV made a loss of £2.7 billion as advertising revenues slumped.
The news comes as Adam Crozier prepared to take up his post as chief executive of the broadcaster on April 26th.
Chairman Archie Norman said ITV will become "a very different business" under Mr Crozier's leadership.
"ITV's challenge is to reduce its dependence on a free-to-air model threatened by digital media and besieged by legacy regulation," he remarked.
His comments may be welcomed by those seeking media jobs with ITV, as they could signal the opening of new job opportunities in the future.
Meanwhile, the BBC has been making cuts in an effort to streamline its services and improve the quality of its offerings.
It has decided to axe two of its radio stations and cut spending on its website as part of a plan to divert £600 million a year to quality content.
Posted by Gemma Roskell
For the latest corporate sales jobs from pfj, click here
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