ITV shuns MediaCity

GRANADA’S plans for a move to a new site at MediaCity in Salford have fallen through.

Its company’s parent, ITV, said it had axed the proposed move from Quay Street in Manchester after Mediacity developer Peel Holdings “dramatically scaled back” its financial commitment.

In a statement it said: “Negotiations with the Peel Group over the possible move of ITV’s Manchester operation to MediaCity in Salford were terminated by ITV this week after the developer dramatically scaled back its financial commitment to the ITV element of the project.

“As a result we will remain at our Quay Street base for the foreseeable future.”

A spokesman for Peel said they would not comment on ITV’s decision.

ITV posted a 41% slump in pre-tax profits to £167m last week and announced 600 job cuts. It wants to save £575m over the next three years and had expected Peel to subsidise much of the cost of the move.

The anticipated move would have seen it join the new BBC North HQ at MediaCity.

A source close to the deal said the project, although delayed is not dead: “A lot has to do with ITV conducting a review of its business in the light of its recent financial results.”

It is understood ITV would have moved to a site next to the Imperial War Museum North and been connected to MediaCity by a foot-bridge.