The owner of ITV franchises Grampian and Scottish Television today said it had done a deal with the newly-merged ITV group to insulate itself against falls in advertising income.

The prospect of a fresh revolt over “fat cat” pay receded today after a major investor group pledged to support a deal for ITV boss Charles Allen worth £24m (€36.3m) over four years.

ITV merger partners Carlton Communications and Granada today looked set to benefit from a shake-up of ITV licence renewals.

CARLTON Communications chairman Michael Green is set to receive a £1.4 million pay-off when the group merges with Granada despite not having a formal contract.

Carlton Communications chairman Michael Green is set to receive a £1.4m (€2m) pay-off when the group merges with Granada, despite not having a formal contract, it emerged today.

London’s FTSE 100 Index held on to positive territory by a narrow margin today after giving back nearly all of the gains seen earlier in the session.

BRITAIN’S leading share index is on course for the 4,200 points level this week with attention focused on results from telecom giant BT, media firms Granada and Carlton Communications and fresh merger activity.

The FTSE 100 Index planted itself firmly above the 4000 barrier today despite losing some ground in afternoon trading.

The benchmark FTSE 100 Index extended its early gains today to levels not seen since early December as a fresh feeling of confidence returned to the London market.

Hopes of a strong start to the week from London’s leading shares evaporated today as the FTSE 100 Index fell back from earlier gains.

Renewed hopes that coalition troops can bring a swift end to the war in Iraq helped boost share prices in London for the second successive day yesterday.

London’s leading shares were back in positive territory today after a rollercoaster ride saw the FTSE 100 fluctuate markedly.

Retail stocks did their best to stimulate the London market today as the blue-chip index proved unable to decide on its next move.

Next week will be a busy one in the London market. As well as British Chancellor Gordon Brown’s Pre-Budget Report, investors will be digesting a swathe of updates from some of Britain’s best known companies, including Abbey National, Tesco and Granada.

London shares - feature movements at 10.00 am

Blue-chip shares raced ahead today as buoyant trading helped lift the London market to its highest close for nearly six weeks.

ITV giants Carlton Communications and Granada were today both linked to possible bids for television franchises Grampian and Scottish TV.

FTSE 100 risers and fallers listed.

The London market has staged a tentative rally today to give investors a welcome break from a spate of hefty losses.

The Football League today welcomed the decision to award the three digital television licences made available by the collapse of ITV Digital to the BBC and Sky, but will still have to fight in the courts for the money owed to the 72 Nationwide clubs.

ITV chairman Leslie Hill is quitting the company.

The FTSE 100 Index was up 29.1 at 5149 after an hour's trading.

Poor technology caused the failure of ITV Digital, according to one of its founders.

Fears were growing today for the future of some Football League clubs after the administrators of loss-making broadcaster ITV Digital announced they were putting the business up for sale.

ITV Digital is to be sold as a going concern but administrators say the service to customers will continue.

Hopes of a settlement in the ITV Digital crisis have risen after senior executives of Carlton Communications and Granada held talks with Football League officials for the first time.

The FTSE 100 Index is edging towards the 5200 mark, gaining 32.1 points at 5193.1.

Carlton Communications and Granada are under increasing pressure to settle with the Football League over ITV Digital.

The Football League have issued ITV Digital with an ultimatum, threatening legal action unless they receive the remaining two instalments of their £315m (€515m) three-year agreement to televise live matches.

Players’ union chief Gordon Taylor today spelled out a doomsday scenario for football as ITV Digital applied to be put into administration with the row over television cash owed to Nationwide League clubs reaching crisis point.

The FTSE 100 Index is ahead just 5.3 points at 5258.6 at lunchtime.

Football League clubs reportedly face a £130m (€209m) shortfall as ITV Digital executives attempt to renegotiate their television contract.

Granada and Carlton Communications have ended talks to merge.

London shares have enjoyed a better day as pharmaceutical and banking stocks pulled ahead.

ITV is reported to have frozen next year's programming budget due to the advertising slowdown.

The start of Wimbledon fortnight saw the London market serve up a decidedly lacklustre session.

The FTSE-100 Index has recovered from a sluggish start to move up 27.0 points to 5692.7.

London shares have plunged more than 90 points as traders have taken their lead from a poor opening on the US markets.

The London market is subdued, with the FTSE-100 index losing 41.5 points.

Tech stocks are coming under pressure on the London Stock Exchange after fibre-optic component maker Bookham disappointed the City with its first-quarter results.

The FTSE-100 has ended marginally lower with an eagerly awaited speech from America's leading banker Alan Greenspan failing to provide a confidence boost.

A late rally by the banking and energy sector has helped the market bounce back and end with its head above water.