LONDON — Broadcaster ITV will stay with ITN when it awards its next news contract.
The decision leaves Channel 3 News — a rival consortium set up by satcaster BSkyB, CBS and U.K. programming producer Chrysalis — out in the cold.
ITV and ITN, which supplies news to ITV, Channel 4 and Channel 5, will enter exclusive negotiations for the contract, which will run from January 2003. The previous contract was for five years. ITN has supplied ITV with news for 46 years.
It is believed ITN offered to cut its annual bill to ITV to £36 million ($53 million) from the current $65 million. Channel 3 News’ bid may have been even lower, at $47 million.
The two big ITV companies, Carlton Communications and Granada Media, each hold 20% stakes in ITN.