22-04-2023, 09:34 AM
(22-04-2023, 01:30 AM)Stuart Wrote:No, the objection was to them taking over Thames completely - not as majority shareholder but as the sole owner. The IBA didn't want sole ownership of ITV companies, they wouldn't have minded if Carlton was going to take a stake or even become majority shareholder - but that wasn't what they were doing.(21-04-2023, 11:25 PM).Milkshake Wrote: Main reason Carlton never got hold of Thames in the mid 80s was IBA made it clear no one could own a maj of share in any ITV company, even thought its main 2 owners at the time wanted out. Even when Thames floated on the stock market not many were sold.The rule was that no ITV franchise could own a majority in another, which is why Trident (Yorkshire and Tyne Tees) was forced by the IBA to de-merge in 1980. The rules were later changed which eventually allowed the formation of ITV plc.
During the 1980s/1990s most ITV franchises had a majority shareholder. There was nothing to prevent that, as it's the usual structure of a company. At the time Thames had two shareholders: EMI was the majority with 51%.
I think the issue the IBA had with a Carlton purchase of Thames was that they already had considerable advertising and media interests elsewhere.
Their other objection was that 'the proposal would lead to a major change in the nature and characteristic of a viable ITV programme company'.