€8.5bn takeover of ITV mooted

A trio of media heavyweights including former BBC director general Greg Dyke may launch an €8.5 billion takeover bid for ITV, it was reported yesterday.

Mr Dyke, Lord Hollick and ex-managing director of the Daily Telegraph Stephen Grabiner could join forces in a bid consortium backed by investment groups Kohlberg Kravis Roberts and Apax Partners, the Observer cited City sources as saying.