I'm on record as saying that running ITV would be the worst job I could imagine (disclosure: I used to work for this company). So, the new management have a real challenge.
TV is now based on formats with licensing rights, and apart from 'Come Dine With Me', ITV have precious few of these. It certainly has no 'Top Gears'.
So, what do you do ?
Well, first of all decide if you're a producer or a broadcaster.
Broadcasting now belongs to Sky and Virgin, so ITV is a glorified producer. It no longer has any control over its distribution or audience.