Shares in both companies were falling today, after it emerged that secret merger talks between the two had broken down. Since then, it has been revealed that Carlton is a possible takeover target, with German publishing group Bertelsmann once more being mooted as a likely buyer.
With the loss-making ITV Digital already costing Granada and Carlton in the region of £800m since it launched, and no sign of breaking even until 2004, there has been pressure from investors to get out of the venture. Earlier this month, it announced it had cut staff numbers by 600.
Shares in Carlton Communications, which had fallen as low as 207.75p this morning, were trading at 220.5p this afternoon, down by 3.29% on yesterday's close. Granada's shares were up by 5.51%, at 119.75p.
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