Yahoo Finance Big Brother Creator Passes ITV Chair Audition
Sir Peter Bazalgette, the creator of Big Brother and one of Britain’s most influential creative industries figures, is on the verge of passing an audition to become the next chairman of ITV (Other OTC: ITVPF - news) .
Sky News has learnt that Sir Peter, who joined the broadcaster’s board as a non-executive director in 2013, is the frontrunner to succeed Archie Norman.
ITV is said by City insiders to be on the verge of announcing Mr Norman’s replacement, with a statement possible as soon as this week.
The company is understood to be using Zygos, a boardroom headhunter, to assist with the search.
Sir Peter announced recently that he would step down as chairman of Arts Council England next year, is also on the board of YouGov (Other OTC: YUGVF - news) , the polling group, and is a former director of Channel 4.
During his time at Endemol, the television producer, he was responsible for creating formats such as Big Brother.
It has also been considering other existing board members, who include the former EMI Music executive Roger Faxon and Mary Harris, an ex-McKinsey partner, as alternatives to Sir Peter.
If he does get the job, Sir Peter’s tasks will include identifying a long-term successor to Adam Crozier, ITV’s chief executive since 2009.
Mr Norman, the former Conservative MP, and Mr Crozier have led a revival of the UK’s biggest commercial television group, with the company now valued at close to £10bn.
The change of chairman will take place in a critical year for Britain’s broadcasting industry, with the BBC Charter Review due to take place, and ministers contemplating the privatisation of Channel 4.
Mr Norman arrived at ITV in January 2010 to find a company facing significant financial and operational challenges.
It had spent lavish sums on failed purchases such as Friends Reunited – which recently announced its closure - and was under intense pressure from shareholders.
Among Mr Norman’s first moves was to recruit Mr Adam Crozier, the then boss of Royal Mail (Other OTC: ROYMY - news) .
Under their stewardship, ITV has soared in value, benefiting from a recovery in advertising spending, while it has invested heavily in content acquisition through the purchase of companies such as the Poldark producer Mammoth Screen and Talpa, producer of The Voice.
The company’s biggest investor, Liberty Global (NasdaqGS: LBTYA - news) , owns 9.9% of the shares - a stake it acquired from Sky (LSE: BSY.L - news) , the owner of Sky News - but has so far explicitly ruled out a bid for ITV.
ITV declined to comment.
