Excluding the write-down, ITV reported a profit of £167 million, down 41 per cent on 2007.
As part of its plan to deal with cashflow problems, caused by a four-per-cent fall in net advertising revenues – down to £1.425 billion from £1.489 billion in 2007, ITV is to have talks with the England Football Association, Uefa and Fifa about rescheduling its rights fee payments.
The broadcaster wants to realign its rights-fee instalments to closer to when it actually brings in revenues. Negotiations will take place within the parameters of the agreed deals and there is no talk of trying to cut back on actual fees.