ITV bosses' heads could be on block

THE love-hate relationship between the bosses of Granada and Carlton has been thrust into the spotlight, following a report that one of their top shareholders is plotting to get rid of them.

According to the Sunday Times, respected Fidelity fund manager Anthony Bolton wants to replace Granada's Charles Allen and his Carlton counterpart Michael Green once the ITV merger is completed.

Insiders at the broadcasters privately dismiss this, but there is no doubt that some institutional shareholders believe both executives should go.

Allen and Green have maintained a united front while the Competition Commission considers whether Granada and Carlton should be allowed to merge.

But few expect the TV executives will be able to work happily together after the deal is done. Even in the midst of losing £1.1bn of shareholders' funds on the ITV Digital venture, Allen and Green could not stop squabbling. Analysts reckon fresh blood is needed to take ITV forward and improve viewer ratings.

Fidelity could not be reached for comment. Bolton funds own 12% of Carlton and 6% of Granada, so he would have a strong say if new executives were appointed. Carlton and Granada declined to comment.