Granada and Carlton to vote on merger

Shareholders in Granada and Carlton were expected to vote today on a merger between the two media groups that will create a single ITV company.

Shareholders were due to attend two separate meetings in London to vote on the proposed £4.5bn (€6.5bn) tie-up.

If both sets of shareholders approve the deal and a court approves arrangements for the merger at the end of this month, it is expected to take effect on February 2.

Last month, Granada and Carlton said job cuts were likely as a result of the merger, which is expected to create savings of £100m (€145m).

The two companies are planning to integrate certain broadcasting activities and improve operational efficiency.

Secretary of State for Trade and Industry Patricia Hewitt conditionally approved the merger in October and has since accepted undertakings that address competition issues.