healing self inflicted wounds

The OFT have given an indication of the timetable for ITV's much lobbied for, review of the contract rights renewal system . CRR has the effect of limiting the revenue that ITV can generate from advertising. The reason we have the current system is due to the fact that previous management of ITV played a very poor hand when tying up the merger of ITV. The system was in fact proposed by ITV itself. The so-called 'straitjacket' is said by some analysts to cost around £50m a year to the broadcaster. A little more than the proposed level of cuts to its news output and commitments. To us it's a no-brainer - give ITV some leeway on CRR so long as they back off on cutting local news. Meanwhile the share price is flatlining.