Investor unease at ITV

It seems that some investors at ITV are not that happy with Michael Grade and want him to step down ahead of a possible share issue.

Following last week's results,the board are considering a £730b issue but according to the FT

some leading shareholders say they would only support such a move if Michael Grade stepped down from his position as executive chairman and worked alongside a new chief executive.

Investors,it adds

have become steadily disenchanted with the group, which last week scrapped its final dividend as well as the financial targets it set 18 months ago.