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TV Times

The best way for big consumer advertisers to reach a large market in Britain is through ITV. For all the advances in pay-TV, streaming services and the rest this remains ITV’s main competitive advantage.

Chief executive Carolyn McCall is concerned that after a 2 per cent uplift in ad revenues in the first nine months, bolstered by the World Cup, commercials could subside in the current quarter as a result of continued uncertainty about the EU negotiations.

But what happens, if as expected, there is a deal in the next week?

Chancellor Philip Hammond indicated in his Budget speech there could be a double dividend in the shape of higher growth and the release of government funds earmarked for the contingency of the cliff edge.

Pent-up demand in the economy could be released and commercials could come flooding back.

Moreover, ITV is now protected from the vicissitudes of advertising market by its investment in productions. The markdown of its shares looks overdone.

At least we held on to 150p.

Hope for a bounce in the SP tomorrow.

Dallo, IMHO, Liberty may be waiting until it receives the cash £13 billion from the sale of assets to Vodafone. At least that's what I'm hoping for. I too am clutching at straws.

I agree Dallo, there could be a bun fight for ITV the same as SKY, once someone makes the first move.

Dallo, I agree with you. My reason for posting the article was its title.

"ITV shares down over 5% as investors start to lose faith"

I must admit to frustration with this share. How long must ITV shareholders wait for some recovery in the share price?

ITV shares down over 5% as investors start to lose faith

https://www.thearmchairtrader.com/itv-shares-down/

Keith, From my understanding. On the 31Oct the intra-day high of the BT share price was 243.15p, the next day 1st Nov the day of BT reporting its results the share price gaped up. To close the gap the BT share price needs to fall to 243.15p to close the gap. The intra-day share price today reached 243.05p so closing the gap up of 1st Nov.

my apologies, wrong board.

The gap up of 243.15 was closed @ 243.05 this morning.

The gap up of 243.15 was closed @ 243.05 this morning.

Solley, I think that the market is looking at the Q4 advertising with December expecting to be down 6%-8%.

Velo, Are BT about to close the recent gap up of 243.15p?

Pacemaker, yes the SP is in free fall, now down 10p.

Deutsche Telekom takeover rumour. See below.

So assuming DT takes over BT what does that mean to the SP.. good, bad, no change.

IMHO, it would mean a considerable share price premium to BT shareholders.

This sounds good.

ITV open to a sale?
Analysts at Liberum said ITV’s reference to Kennedy as a “key player” in selling ARM to Softbank may be a suggestion that the broadcaster could consider a disposal.

“This may be just filler for the statement but it may also be a flag that ITV is open to a sale.”

Dallo,

Let's hope that its Liberty topping up.

15:37:21 147.9000 30,000,000 Buy

FT article. Part 3

He left telecoms whereas Mr Patterson ended up joining BT and rose through to ranks to become chief executive in 2013. Mr Jansen took on a series of turnround projects. He worked his way through struggling travel agent MyTravel, catering company Sodexho’s UK business and then Worldpay as it was carved out of RBS. He led the float of the payments company and its subsequent merger with US rival Vantiv to create a £23bn global payments giant. The combined business is now valued at only slightly less than BT.

FT article. Part 2

Stephane Beyazian, an analyst with Raymond James, said the new chief executive would have to resist regulatory pressure for a nationwide rollout of fibre optic broadband and should ponder whether to continue to invest £1bn a year in sports rights when it needed to cut its overall costs by £1.5bn.Mr Jansen might also be tempted to make a “transformational acquisition or merger” in the technology sector to boost BT’s anaemic growth rates, he added. Yet questions remain over how radical he can be. Claire Enders, of Enders Analysis, said BT’s immediate challenge was a potential “no deal” Brexit and the knock-on effect for its pension deficit, which stood at £4bn at the end of June. “BT’s strategy is set. Its priorities [are] around cost-cutting,” she said. Nick Delfas, an analyst with research company Redburn, said the decision not to reconsider a break-up was a missed opportunity, with Openreach already facing competition from a new generation of fibre builders including Goldman Sachs-backed CityFibre. “BT shares don’t reflect Openreach’s value,” Mr Delfas said. “Philip Jansen will need to address all this and it will be disappointing if he does not bring a fresh pair of eyes.”Guy Peddy, an analyst with Macquarie, added that the appointment of Matthew Key, the former O2 UK chief executive who also ran Telefonica’s digital operations, as a non-executive director could prove to be a more interesting appointment than that of Mr Jansen in the long run. Mr Key, who is credited with bringing the iPhone to the UK while at O2, truly “understands the value of digital and brands”, Mr Peddy said.Mr Jansen’s historic links to his predecessor — he hired Mr Patterson twice — have raised eyebrows. So too has his relationship with BT’s former chairman Mike Rake, who was also chair of Worldpay, the payments technology group where Mr Jansen remains co-chief executive until the end of the year. But Mr du Plessis dismissed suggestions that he had hired a new version of his old chief executive, saying he had “no concerns” about Mr Jansen’s links to the previous regime. Mr Jansen, 51, hired Mr Patterson straight from university when he took him to Procter & Gamble and then, at the dawn of the broadband era, brought his protégé to Telewest, the cable company where he was head of its consumer division. Mr Jansen was linked to the top job at BT in 2002, but Ben Verwaayen was instead handed the task of turning around a business that had been on the verge of collapse. He left telecoms whereas Mr Patterson ended up joining BT and rose through to