Media heavyweights may launch bid for ITV

A trio of media heavyweights including former BBC director general Greg Dyke may launch a £6bn (€8.57bn) takeover bid for ITV, it was reported today.

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.