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| Tony Ball and ITV end job talks | Tony Ball and ITV end job talks |
| (about 4 hours later) | |
| ITV and Tony Ball, the former boss of Sky, have ended talks about him becoming chief executive at the broadcaster, the BBC has learnt. | ITV and Tony Ball, the former boss of Sky, have ended talks about him becoming chief executive at the broadcaster, the BBC has learnt. |
| The ITV board's nominations committee met last night and decided to cease negotiations with Tony Ball, the BBC's business editor Robert Peston said. | The ITV board's nominations committee met last night and decided to cease negotiations with Tony Ball, the BBC's business editor Robert Peston said. |
| The two sides had almost agreed his pay package. | The two sides had almost agreed his pay package. |
| The final straw for ITV was Mr Ball's opposition to proposed candidates to replace Michael Grade. | The final straw for ITV was Mr Ball's opposition to proposed candidates to replace Michael Grade. |
| Other outstanding items include what he would be paid in the event of his contract being terminated. | Other outstanding items include what he would be paid in the event of his contract being terminated. |
| Mr Ball said he was "surprised and disappointed" by the collapse of the talks. | |
| "So it's back to the drawing board for ITV to find a new chief executive - which won't be easy with its part of the commercial television industry in such dire straits," the BBC's Robert Peston said. | "So it's back to the drawing board for ITV to find a new chief executive - which won't be easy with its part of the commercial television industry in such dire straits," the BBC's Robert Peston said. |
| It is understood that Mr Ball had set a deadline of this weekend to agree terms. | It is understood that Mr Ball had set a deadline of this weekend to agree terms. |
| Shares in ITV fell 1.2p to 45.3p on the news. | Shares in ITV fell 1.2p to 45.3p on the news. |
| Veto on chief | Veto on chief |
| The potential candidate for chairman who Tony Ball didn't want is Sir Crispin Davis. He is standing down as chief executive of the publishing giant, Reed Elsevier. | The potential candidate for chairman who Tony Ball didn't want is Sir Crispin Davis. He is standing down as chief executive of the publishing giant, Reed Elsevier. |
| Many will understand why ITV's board felt it inappropriate that a chief executive should have a veto on who should have the role of holding the very same chief executive to account. | Many will understand why ITV's board felt it inappropriate that a chief executive should have a veto on who should have the role of holding the very same chief executive to account. |
| Another name on the list of candidates was Sir Michael Bishop, the recently retired founder of BMI and a former chairman of Channel 4. | Another name on the list of candidates was Sir Michael Bishop, the recently retired founder of BMI and a former chairman of Channel 4. |
| There are two other potential candidates. | There are two other potential candidates. |
| ITV struggle | ITV struggle |
| It's back to the drawing board for ITV Robert Peston, BBC business editor Read Peston's picks | It's back to the drawing board for ITV Robert Peston, BBC business editor Read Peston's picks |
| ITV is struggling to cope with increased competition from digital channels and with a massive downturn in advertising revenue during the recession. | ITV is struggling to cope with increased competition from digital channels and with a massive downturn in advertising revenue during the recession. |
| In the first half of this year, the broadcaster made a pre-tax loss of £105m. | In the first half of this year, the broadcaster made a pre-tax loss of £105m. |
| It is currently searching for a new chief executive, one it hopes will restore the company to profitability. | It is currently searching for a new chief executive, one it hopes will restore the company to profitability. |
| One month ago, it made an offer to Tony Ball, the former boss of BSkyB, but the level of incentives he was looking for have proved to be a sticking point in negotiations. | One month ago, it made an offer to Tony Ball, the former boss of BSkyB, but the level of incentives he was looking for have proved to be a sticking point in negotiations. |
| What is now likely to happen, Robert Peston says, is that a new non-executive chairman will be appointed, perhaps as soon as next week. | What is now likely to happen, Robert Peston says, is that a new non-executive chairman will be appointed, perhaps as soon as next week. |
| The new chairman will be responsible for overseeing the process of finding a chief executive. | The new chairman will be responsible for overseeing the process of finding a chief executive. |