Regular readers of this blog will know that I've long admired John Cresswell, who thankfully remains Interim CEO and should be given the job fully. He has proven a safe pair of hands in a storm and has made many wise decisions since taking over in this role.
Archie Norman is something of a left-of-field choice for Chairman, but he has an excellent track record, does not shy from tough choices and is a businessman, not a banker; all things that count for him in my book. He is also very well regarded in the City and will probably be considered worth a punt, opening out the company's ability to fundraise and therefore expanding their strategic options in the marketplace.
ITV are still in for a very tough time and they probably need to bring in more web nous if they are to survive in the pound to pence world that British media has become.
So, what should the management team do now ?
- Sort out monetisation of the web
- Work the back catalogue
- Embrace narrowcasting
- Move into 360 media taking brands like Top Gear as a model
- Leverage its ad sales team into properties not owned by the company
- Establish a coherent distribution strategy, especially pushing Freeview
ITV has been turning out good programming whilst cutting costs and advertising is recovering, but this is a window of opportunity that won't last long.