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ITV Plans £30 Million Cost Cuts Amid Ad Market Woes
· Confirmed
In Short: ITV chief executive Dame Carolyn McCall said the company was taking “decisive action” to offset the weaker market, with £30 million in cost savings from its media and entertainment division.
ITV announced plans to cut costs by £30 million by the end of the year, as the advertising market continues to weaken, according to a report published by Editor Steven Hugill on November 11, 2026.
The company confirmed that jobs would not be impacted by the cost-cutting measures, with around £25 million coming from content savings, such as delaying the airing of some content into next year, and £5 million from “discretionary non-content savings.”
The market has been impacted by competition from streaming rivals, global economic uncertainty, and restrictions on junk food advertising aired on television and online.
Lisa Nandy formally intervened, triggering probes by the Competition and Markets Authority (CMA) and regulator Ofcom, with a deadline to report back on the impact of the deal on media plurality in the UK and free speech by January 27.
Until there is greater clarity on the deal, likely after January, the market’s focus will remain on whether the transaction proceeds and on what terms, which will be the main driver of ITV’s valuation over the next few months.
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The Vatican published a papal decree repealing 2021 salary cuts that Pope Francis had imposed on many Vatican employees as part of the Holy See’s COVID-19 cost-saving measures.
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(TSX: MUX) swung to a third quarter net loss of US$36.7 million, or US$0.60 per share, as weaker output at all three of its producing mines ran into sharply higher unit costs.
This exclusive three-year agreement includes subsequent models and costs $250 per panel.
Today, there is a chance for GBP to retest 1.3285.
What this adds
The report adds that the cost-cutting measures are part of ITV’s broader strategy to mitigate the impact of a weakening advertising market, without affecting jobs.
The sources have not established the exact timeline for the cost savings or the specific areas where the savings will be implemented.
The market’s focus remains on the regulatory review process and the potential impact of the Sky deal on ITV’s valuation.
What's confirmed
- ITV chief executive Dame Carolyn McCall said the group was taking “decisive action” to offset the weaker market, stripping out £30 million in costs from its media and entertainment division.
- ITV has revealed plans to cut costs by another £30 million by the end of the year as it warned over a worsening advertising market.
- It confirmed jobs were not set to be impacted by the cost-cutting.
- Lisa Nandy formally intervened in a move triggering probes by the Competition and Markets Authority (CMA) and regulator Ofcom, with a deadline to report back to her on the impact of the deal on media plurality in the UK and free speech by January 27.
- It says the market has been impacted by competition from streaming rivals, global economic uncertainty and restrictions on junk food advertising aired on television and online.
What's still developing
- President Donald Trump’s net approval rating has fallen across 10 major beef-producing states in the month since he announced a temporary increase in beef import quotas designed to bring down the cost of beef, according to polling data.
- ITV might have magicked up £30 million of identified temporary cost savings in mitigation, but further advertising woe is likely an indication the company cannot be shot of its media and entertainment arm soon enough.
- The job market has been resilient against multiple headwinds over the last few years, with the unemployment rate staying low, but is showing signs of strain.
- When prices are rising too quickly and inflation is above the Fed’s 2% target, it raises interest rates, increasing borrowing costs throughout the economy.
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