The ITV boss is delivering hits but the credit crunch is squeezing profits, writes Richard Wachman When ITV unveils profits this week, executive chairman Sir Michael Grade will find himself propelled into the spotlight where a faltering performance could herald another drubbing for the share price and ignite an angry response from investors. Grade will unveil numbers for the first half of the year which are expected to be down on the same period in 2007 due to investment in programming that has already produced hits such as Britain's Got Talent. Audiences are thought to have held up reasonably well and advertising income was probably broadly flat in a difficult market, which Grade is rightly proud of. But analysts fear that behind the data lies some shocking information about what has happened to advertising in the last eight...
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