ITV has withdrawn its market guidance for the year and implemented cost-cutting measures as a result of the impact that Covid-19 is having on the commercial broadcaster, chief executive Carolyn McCall has announced.
In a trading update, the broadcaster has announced the aim to reduce its programme budget by £100m including savings made from production around the now postponed Euro 2020 tournament. Discretionary spending will also be cut by £20m alongside already announced savings of £10m and another £30m has also been identified, the statement claimed.
McCall outlined the issues the broadcaster faced in terms of its production house, ITV Read full story ›
Source: The Drum