The Week: ITV left in limbo as CEO and chairman hunt drags on

Uncertainty hangs over ITV after it called off talks with the former Sky boss Tony Ball about becoming its next chief executive.

The collapse of the talks leaves ITV searching for a chief executive and a chairman, following Michael Grade's announcement that he is to leave. Grade had been expected to stay on as chairman once a chief executive had been appointed.

ITV's search for a chief executive is unlikely to recommence until the broadcaster has appointed its next chairman. Sir Crispin Davis, the former boss of Reed Elsevier and Aegis, and Sir Michael Bishop, the founder of bmi, have been linked with the post.

The broadcaster said talks with Ball had collapsed because of "failure to fully agree contractual arrangements, together with a disagreement over the future chairmanship".

Analysts have suggested that the hiatus in appointing a new leadership team leaves ITV vulnerable to a takeover.