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OFT statement regarding contract rights renewal

129/07    6 September 2007

The OFT has decided that it will conduct a review of ITV's Contract Rights Renewal Undertakings, which is expected to start in January 2008. The review will be conducted in partnership with Ofcom, and further information will be published when the review commences.

NOTES

1. The CRR undertakings were accepted in November 2003 following an adverse finding by the Competition Commission in relation to the proposed merger of the two main ITV companies, Carlton and Granada. The undertakings allow buyers of advertising airtime to roll forward their pre-merger contracts, subject to annual adjustments which reflect the change in ITV's share of advertising (measured in the form of its share of commercial impacts). The undertakings created the Office of the Adjudicator which is responsible for monitoring compliance for the OFT and Ofcom.

2. For a full text of the undertakings and more information see the Office of the Adjudicator website.

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