FILE PHOTO: A company sign is displayed outside an ITV studio in London, Britain July 27, 2016. REUTERS/Neil Hall
LONDON (Reuters) – ITV ditched forecasts for annual advertising sales and results on Monday as the coronavirus forced Britain’s biggest commercial free-to-air broadcaster to suspend production of top shows including “Coronation Street” and “Emmerdale”.
Advertisers across all categories were deferring campaigns in a rapidly changing situation, ITV said as it also pulled its dividend. The company said it had implemented contingency plans to enable it to continue to produce news and live output.
ITV’s shares fell to an eight-year low of 50 pence at the open and were trading down 13% at 55 pence at 0812 GMT after Chief Executive Carolyn McCall said the broadcaster had to make difficult decisions in “unprecedented and uncertain times”.
“Our absolute priority is to protect our people, while trying to ensure that we deliver the news and programmes our viewers…
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