ITV To Cut 600 Jobs After Losing Billions

scopeITV To Cut 600 Jobs After Losing Billions

Broadcaster ITV is to cut about 600 jobs after reporting a £2.73bn pre-tax loss for the year.

The company’s figures were hit by enormous writedowns on the value of its assets – without which the broadcaster would have turned in a £167m profit for 2008.

ITV told Sky News the writedowns mainly constitute a reduction in the value of broadcasting assets – namely ITV1, 2, 3 and 4.

The broadcaster believes the channels are worth considerably less than to a year ago because of the collapse in the advertising market.

The company also announced the sale of social networking site Friends Reunited, and said it would make other «significant» savings.

The job losses affect every department and account for around 15% of ITV’s 4,500-strong workforce.

Some 150 people will lose their jobs in Leeds, with most of the remaining job cuts in London.

The group hopes to make savings of £155m this year, rising to £175m in 2010 and £245m in 2011.

Costs will be cut through efficiencies on network programmes and regional news, the company said.

ITV’s executive chairman Michael Grade said the cuts were due to the «short-term horrors» of the cyclical downturn, which had seen advertising deteriorate significantly from the end of last year.

«The tough actions we are taking have to be seen against that backdrop,» he added.

«These are unprecedented and extremely difficult times.»

Με το διαζύγιο στο χέρι θα τον πάρει, τον μπουμπούκο της θα πάρει!


Θα τόν πάρει τον μπουμπούκο,
θα το πάρει το παλληκάρι
Με παπά και με κουμπάρο θα τον πάρει,
τον μπουμπούκο θα τον πάρει.
θα τον πάρει το μανούλι δια της βίας,
θα τον πάει στα σκαλιά της εκκλησιάς
Θα χορέψουν το χορό του Ησαία,
βίον ανθόσπαρτο μπουμπούκο και απο μάς!

H μέχρι τώρα επιρροή των social media στις εφημερίδες της Βρετανίας!


A recent study released by Hitwise shows an increase in UK traffic to newspaper websites. It has been reported that print readership of newspapers dropped by a staggering 5million in 15 years. This equates to nearly a 20% decrease. If readership is falling in print editions, what are newspapers doing online to make up for it? What role does social media play? We analysed the major daily national newspapers in the UK to see how well they had incorporated social media into their online editions.

In general, UK national newspapers have recognised the need to include more social aspects on their sites. All of the newspapers allow readers to comment somewhere on the site (although the comments are usually restricted to the «blogs» and opinions sections) and RSS feeds are also available on all sites.

The Telegraph, The Daily Star and The Daily Express allow user profiles, with The Telegraph and the The Daily Star making room for user blogs.

The table below shows what social media implementations UK newspapers included in their online editions.

We checked against social bookmark icons, popular stories (based on number users who visit the page), video, the ability to create your own blog or profile and the number of times each had a story reach the front page of Digg. We have not detailed how well they integrated these options and medias, this table is an general guide to the influence of web2.0 and social media on UK newspapers.

Newspapers Icons*  Popular**  Video Blog/Profile***  Digg FP
Times                                                                                         310
The Independent                                                                      139
The Telegraph                                                                         183
The Daily Express                                                                      0
The Sun                                                                                     18
The Mirror                                                                                14
The Guardian                                                                         443
The Daily Mail                                                                       309
The Daily Star                                                                           1
Financial Times Planned                                                       44

*Social news and bookmarking Icons for easy submission.
**Shows most popular, most emailed or most commented stories on the front page.

Front page content determined by users.
***Has own blog or profile

The Digg front page results were interesting. The Sun, which is the largest selling paper in the UK performed poorly, reaching the front page only 18 times. The tabloid papers, with the exception of The Daily Mail, generally performed poorly, while the broadsheets each reached the Digg front page on hundreds of occasions.

The Guardian was the most successful, reaching the front page 443 times. This probably isn’t that surprising given the fact that most social news sites tend to be more liberal in content.

The number of times that the broadsheets reached the front page might also indicate that those online editions are read by influencers, as the report released last year by Millward Brown suggested.

While we concentrated on looking at the national daily newspapers, local newspapers can also use social media in an innovative and engaging way.

A recent MIT podcast looked at one local newspaper who used a form of collective intelligence to determine what the front page of the newspaper should be.

There’s also no reason why regional newspapers can’t follow the example of KPBS and use social media tools to keep locals informed about breaking news or events. Despite the many debates that newspapers are dying, it appears that the people still want their news from trusted mainstream sources.

We will be continuing our analysis into print media by looking at the impact of social media on UK based magazines in the near future, so subscribe to the RSS feed link below to keep up to date.

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