ITV's Grade seeks digital review as advertising revenue falls

Michael Grade, the ITV chief executive, warned yesterday that the company needs a swift resolution of the public service broadcasting debate in the face of a sharp decline in television advertising.

ITV's half-yearly figures, published yesterday, included a goodwill impairment charge of £1.6bn, a £35m cost-cutting programme likely to include job cuts, and a halving of the dividend – alongside predictions of a 20 per cent drop in ad sales next month.