Executive chairman Michael Grade is expected to reveal a considerable fall in profits on Wednesday, when he announces the broadcaster's annual results, as well as huge debts and falling ad revenue.
Among the channel's shows under threat is arts series 'The South Bank Show', which will see a cut in the number of programmes per series, and Napoleonic war drama 'Sharpe' which is expected to be cancelled altogether. 'Wire in the Blood', starring Robson Green, is also likely to be scrapped.
An adaptation of 'Wuthering Heights' that has been completed, but yet to be screened has not been given a transmission date while a multi-million pound adaptation of EM Forster's 'A Passage to India' has been canned.
According to weekend reports, analysts expect ITV to report revenue of around £2bn and earnings before interest, tax and amortisation of between £194m and £230m.
UBS, the broadcaster's broker, has urged Grade to launch a rights issue to boost its finances, while the chairman is also thought to be considering the sale of SDN, which is thought to be worth around £200m.
The sale would make some money for Then valued at £175m it is now estimated to be worth between £20-£40m.
Despite recommendations from the City for a £300m rights issue, sources close to the company say it is unlikely to happen imminently.
In February it was reported that
It also introduced a tiered system of pay which meant those earning £25,000 or lower would receive a pay rise of 4.2%, the highest rise of all employees.
At Five, weekend reports suggest it is likely to make around a third of its 350 staff redundant.
Last week it was reported that Five and ITV had drawn up plans to undertake a three-way merger with Channel 4.
According to The Independent on Sunday, a tie up would save the beleaguered broadcasters as much as £200m through shared administration.
Five's CEO Dawn Airey has said she is open to the idea, but Channel 4's chairman Luke Johnson appears more reticent about the move.
Johnson stated that either privatisation of the channel or a joint venture with BBC Worldwide would be preferable to a "messy deal" with the two ailing broadcasters.
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