Playing Monopoly Badly

The Competition Commission review of contracts rights renewal has come to the wrong conclusion.

A system put in place to prevent price gouging when ITV was a virtual monopoly has no place in the multi channel, multi media world we now operate in.

ITV has gradually been deregulated over the years, but to see this kind of restriction in a world dominated by entities such as Google, the BBC and Sky is simply unfair. Let the market set the rates.

As the recent recession showed, advertisers are more than ready to move their budgets if they don't like the pricing.

The Competition Commission would be well advised to focus more on these other monopolies (which is officially defined as anyone that has more than 25% of market share). In particular, Google's total dominance and lack of transparency in the online ad market needs urgent attention.

As ever, the EU is likely to make the Competition Commission look like irrelevant and bumbling oafs, reminding me of one of the Monster Raving Loony Party's recent manifesto pledges - that there should be at least two Monopoly Commissions...