LONDON (Brand Republic) – The UK’s largest ITV companies, Carlton Communications and Granada Media, are understood to be reluctant to float both ITN and ONdigital in the face of volatile market conditions for media and technology stocks.
The ITV broadcasters, which own majority interests in the two companies, pledged last year to work together more closely on developing business opportunities since legislation was removed preventing the emergence of a single ITV company.
Carlton and Granada hope to strengthen both businesses while increasing their value ahead of as-yet-unscheduled IPOs. They intend to promote ONdigital on ITV in order to drive up subscriber numbers.
ITN shareholders are slated to meet on January 24 to vote on the news provider’s stock market offering. Reports indicated that at least one unnamed shareholder is keen to press ahead with an IPO.
Aside from Carlton and Granada, ITN is also owned by United Business Media (formerly United News & Media), Reuters and the Daily Mail & General Trust.
ONdigital, which today announced it had passed its 1m subscriber target, is not expected to reach a decision on its flotation this quarter.