Carlton faces expulsion from FTSE 100

LONDON - ITV company Carlton Communications faces expulsion from the FTSE 100, which reviews its index of blue-chip shares next week, as its share price fell to an eight-year low.

The fall in Carlton's share price took its market capitalisation below the £2bn mark. Shares closed at 288.5p last night and any further falls could see the company ejected.



In early trading this morning, the shares had slipped a little more, falling 0.25p.



The company has been under attack from investors over its loss-making ONdigital joint venture with Granada.



Other media stocks fared badly in trading yesterday. United Business Media fell 11p to 549p, and the company is set to exit the FTSE 100. Granada's share price fell by some 3p, closing at 138.8p.



The falls came after Morgan Stanley cut its forecasts for Carlton and Granada.



The two ITV companies have been badly hit by the downturn in advertising revenues.




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