ITV turned attention away from its leadership crisis today by revealing further signs that the worst of its advertising slump may be over.
The broadcaster, which has been boosted by the return of hit show X Factor, said advertising revenues were expected to be down by 3% in October, with current forecasts pointing to a similar figure next month.
The performance for the ITV family, including its digital channels, represents an improvement on its last trading update in early August, when ITV forecast a 12% fall in quarterly revenues and a 7% drop in September.
In a brief statement, the company said: "ITV remains on course to outperform the TV advertising market across the second half and the full year."
ITV’s troubled search for a new chairman took a new twist yesterday when it revealed two potential candidates, Sir Michael Bishop and Sir Crispin Davis, were not in the running for the job, currently held on an executive basis by Michael Grade.
Chief operating officer John Cresswell has agreed to become ITV’s interim chief executive, but in another blow has decided to leave "to seek a fresh challenge" when a permanent chief executive is appointed.