ITV shareholders may force management changes

02 Feb, 2004

Disgruntled shareholders of ITV Plc, created by the merger of rivals Carlton and Granada, are meeting to discuss management changes at the broadcaster, Britain's Sunday Times newspaper said.
The company, whose shares officially debut on Monday, will become the top British commercial broadcaster, controlling more than half of the country's television advertising market through the free-to-air channel ITV1 and the digital channel ITV2.
The newspaper report said the shareholders, led by fund manager Anthony Bolton, were questioning the future of Chief Executive Charles Allen.
It said shareholders were growing increasingly concerned that a non-executive chairman has not been found for the firm.
Carlton's founding chairman, Michael Green, who was to serve the same role in the merged company, was ousted in a messy shareholder revolt after the deal was signed.

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