Grade is also well-liked in the BBC and that should count against him with anyone contemplating a crackdown. Also conspiracy theorists would assume that Lord Birt would be able to poison that particular well from his perch in Downing Street.
Seventy nine people have applied for Gavyn Davies' old role, but the Grade CV matches the job spec well. His knowledge of the media is evident, but it is his experience in running big organisations, such as his chairmanship of Camelot, that is attracting attention in the Department for Culture, Media and Sport.
Grade, who has never quite severed his ties with broadcasting since resigning as Channel 4 chief executive, also gets on well with culture secretary Tessa Jowell and has sailed through to the shortlist. The former Daily Mirror sports reporter has no overt political ties, although he would have the useful support of influential Labour luvvies such as the Lords Puttnam and Bragg.
Once the basic boxes have been ticked there are a few more subjective reasons why he would be suitable. Grade understands what public service broadcasting is and, uniquely, has the chutzpah to argue the BBC's case for a new ten-year charter before the British public. It is difficult to think of anyone else who could do it half as well.
He has also proven himself a great operator in the complex world of regulated activities, where the political dimension is ever-present. Interestingly he has coped less well with the wholly commercial sector, whether in US television or at First Leisure in the UK.
There is still the Lord Burns question. Some newspapers believe he has applied. He almost certainly has not although his Lordship, for reasons of his own, is being so coy it is difficult to be definitive. But friends who have asked him the direct question have been left with the firm impression that he has no intention of giving up his lucrative City chairmanships for an ill-paying bed of nails.
Any uncertainty will be removed soon.There is a clear conflict of interest between an application from Burns and his role as the government's special adviser on Charter Review. If by the end of this week Burns has not announced he is standing aside from his advisory role, then we can safely say he hasn't applied.
And what of Richard Lambert, the former Financial Times editor? In many ways he is an excellent candidate, but despite his distinguished editorial experience, he has never been responsible for running a big organisation and in the past has acquiesced in witless FT leaders calling for the BBC's privatisation.
If Grade has a weakness, it is a lack of news and current affairs experience. This suggests a potential dream team to restore the BBC's reputation and staff confidence. Grade for chairman and Lambert for vice-chairman, once the hapless deputy, Lord Ryder, who has apologised too much already, has made his final apologies and left.