Licences for ITV

The ITC has announced the terms under which the ITV licencees can renew their licences. The new 10-year licences will start at 1 April this year. Under the terms of the new deal the ITV companies will have to pay a cash bid plus a percentage of qualifying revenue (PQR) annually. Under the proposals the cash fee for the majority of the seven licences up for grabs has fallen while the PQR rates have risen. The ITV companies have until 23 March to say whether they accept the ITC's terms.