ITV plc - Definition and Overview

ITV plc is the company formed from the merger of Carlton Communications and Granada plc, which began trading on 2 February 2004.

ITV plc currently owns the following ITV franchises in the UK:

Former Granada-owned franchises:

• Anglia Television: East of England franchise
• Border Television: English - Scottish border and Isle of Man franchise
• Granada Television: NW England franchise
• London Weekend Television (LWT): London Weekend franchise
• Meridian Television: South and south-east England franchise
• Tyne Tees Television: North-east England franchise
• Yorkshire Television: Yorkshire/Lincolnshire franchise

Former Carlton-owned franchises:

• Carlton: London weekday franchise
• Central Independent Television: Midlands franchise
• HTV: Wales and West of England franchise
• Westcountry Television SW England franchise

It also wholly owns the following television channels:

• ITV2
• ITV3
• ITV News Channel (produced by ITN)
• Men and Motors (operated by Granada Sky Broadcasting)

ITV plc also owns 75% of the ITV national breakfast television franchise GMTV, as well as 45% of the Irish broadcaster TV3. The company owns a 40% stake in its news provider Independent Television News Limited.

The CEO of ITV plc is Charles Allen. Sir Peter Burt is the Chairman. ITV plc is listed on the London Stock Exchange plc's Official List. It was created through a share swop, Granada shareholders exchanged their shares for ITV shares at a rate of 1:1, Carlton shareholders at a rate of almost 2:1. Thus the former Granada shareholders own almost 2/3rds of the new company.

ITV plc is divided into three divisions - Broadcast, which operates the TV networks, News, which runs the ITV regional franchises, and Granada which is the network production division.

ITV plc also owns the largest cinema advertising business in the UK and Ireland, Carlton Screen Advertising.