Carlton and Granda announce savings plan

Media groups Granada and Carlton today announced plans to save £100m (€143m) as they signalled rapid progress towards completing the merger that will create one single ITV company.

Granada Media plc owns a 45% stake in TV3.

The two companies said they planned to integrate certain broadcasting activities and improve operational efficiency.

Granada and Carlton, which today both announced annual results, did not give details of how they planned to achieve the savings.

But trade unions have already called a ballot of Granada staff in protest at a pay offer.

The move by the National Union of Journalists, broadcasting union Bectu and engineering union Amicus is believed to have been partly prompted by fears that the savings could lead to wide-ranging job cuts.

Today Granada said it had achieved pre-tax profits before exceptionals of £143m (€205m) in the year to September 30 against £125m (€179m) the year before.

Carlton announced a 32% rise in pre-tax profits before exceptionals and other items to £86m (€123m).