ITV - The Hunt for a new Chairman part I17 Jan 2021 18:53
So, its all over the weekend press that ITV is in the hunt for a new Chairman to replace Sir Peter Bazalgette, first reported by Sky business news on Friday afternoon. What do you mean you didn't see all the news articles , don't tell me you missed them all, surely not ??
Well quelle surprise, there wasn't a single article written about ITV's hunt for a new chairman (or chairwoman !) over the weekend, not even in the Sunday times whom couldn't say a bad word about ITV last weekend even waxing lyrical about Britbox after all this time despite sla**ing it off for the last few years . And that made front page news no less !!!!
Let me just remind everyone what the Times had to say about Sir Peter's appointment back in 2016, ok you will need to subscribe for the full article but the headline alone tells you what the Times thought about his appointment back then :-
https://www.thetimes.co.uk/article/bazalgette-to-become-itv-chairman-frprfq6g3
Okay, so no news in the Times or anywhere this weekend, doesn't that strike you as bizarre ? Has GS really got such a strong foothold in this company that they are now calling the shots above the management at ITV, to such an extent now, that they can control what's in and what's out of the business headlines regarding ITV ?? Just look at how Google and Facebook are now controlling the USA, presidents now and in the future don't have a chance unless they collude with these big media empires. Is it that ITV are just as powerless now??
So we are led to believe Sir Peter's tenure at ITV is up after 2022 and we also know that the company is agressively moving into the digital market place, just look at the jobs advertised within the company on the ITV website, each job begins with the description :-
'We will be a digitally led entertainment and media company that creates and brings brilliant content to audiences, wherever, whenever and however they choose....'
Will GS now look to employ 'one of their own' to run the company , someone from the USA who has vast media contacts, to me it now looks more than certain.
With regards to the share price, we all know that the last thing GS want right now is a raft of buying interest, so don't expect the stock to go shooting up on bid spec, GS will make sure to dampen down any huge upward surges.
Remember last Monday, the stock was marked up by 4p to 113p before 10:30am only to drift down and by mid-week was touching 106p and then closed the week at 109p, more or less unchanged on the week even after those articles in the Times newspaper !!
GS made money on their 'short' book, as a result of that interim movement and will always make money from the movement in ITV shares, regardless of the stock being up or down (they control the order book themselves). They will curtail any big upsurges in the stock price until they are in control of a bid situation for ITV.