[Former Member 443]

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.

Ironically I don't think Tyne Tees ever had a majority shareholder other than Trident. Both before and after this time, the company had been split between multiple local family companies in the North East, which had been a major part of its financial weakness as getting investment was always an issue.