The 60-minute show has been axed from ITV1's Tuesday night slot with immediate effect and will return to the schedule on Monday July 9 as a 30-minute programme at 10pm.
ITV also said that 'Tycoon' would be off air for next week while the programmes are re-edited into its new 30-minute format. The broadcaster said it would air a repeat of an unspecified 90-minute drama in its place.
It is unclear whether ITV will broadcast all six episodes of the series, which sees multi-millionaire Peter Jones choose which one of six budding entrepreneurs he will help to set up their own business.
ITV said: "'Tycoon' has been moved into a new slot. ITV1 has performed very strongly so far in 2007 (with some of our best results for three years) and we have taken a commercial decision to protect that performance. Happily we have been able to return the series to a new slot."
To accommodate 'Tycoon' on a Monday night ITV1 has had to pull chatshow '24 Hours with...' from its regular slot. The channel said that '24 Hours with...' will finish its run but could not confirm a new transmission date or time.
The decision to pull 'Tycoon' has also affected comedy series 'Tough Gig', which has aired straight after the business format at 10pm on Tuesday nights. ITV said that the show, which is fronted by a different comedian each week, will be rescheduled.
'Tough Gig' has added to ITV1's gloom on a Tuesday night. The series only captured a 4.4% audience during its first episode last week, dropping to 4.1% for its second outing this week.
.jpg)
.jpg)