LONDON — Granada Media is expected to announce later this week a loss of roughly £80 million ($111 million) for the first six months of its fiscal year.
Ad sales for ITV, the U.K.’s biggest commercial web, are forecast to come in at least 15% lower than last year; digital costs, too, hurt the company’s bottom line.
Granada and Carlton Communications, the two big ITV companies, are both under financial pressure due to the burden of their pay TV joint venture ONdigital. The companies forecast spending of $379 million on the platform in the coming year.
Carlton chief exec Gerry Murphy has said that the company would consider inviting a third investor to join ONdigital, soon to be revamped into ITV Digital. Satcaster BSkyB and British Telecom are potential candidates.