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Britain's ITV broadcaster posts steep losses
Saudi Press Agency Published in Saudi Press Agency on 06 - 08 - 2009


Britain's main commercial broadcaster, ITV,
Thursday reported steep half-yearly losses of 105 million pounds (178
million dollars) on Thursday, according to dpa.
The company said it was hit by a combination of falling
advertising revenue, the rise of the internet and pension
commitments.
ITV, a rival of public service broadcaster BBC, said it would look
to further cost-cutting in production to turn round its fortune.
The channel, best known for its TV reality shows, also said it
would sell its social networking site Friend Reunited to publisher DC
Thomson for 25 million pounds. ITV bought the site for 120 million
pounds in 2005.

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