Granada Group has announced a major overhaul of its media business
and is planning to float a minority stake in the restructured operation
this summer as it turns all its guns on the issue of ITV ownership.
Granada has already made clear its intention to mount a bid for either
United News & Media or Carlton Television if the Competition Commission
rules in favour of further ITV consolidation next month. Now, by
separating off its media assets from the Granada catering businesses and
overhauling the entire media operation, the Granada Group is aiming to
ensure that it remains a serious ITV player.
The media restructure will see the creation of four new divisions under
the Granada Media banner: Granada Creative, housing production
businesses; Granada Broadcasting, managing the four ITV licences held by
Granada; Granada Broadband, which will exploit new opportunities arising
from the growth in digital, the internet and broadband technology; and a
rebranded and expanded commercial operation, Granada Enterprises.
Enterprises will be headed by the chief executive of Granada Media, Mick
Desmond. He said that the new operation would ’offer advertisers a
one-stop shop across all of our platforms, from analogue ITV to the
internet and into areas such as WAP and broadband’.