OFT statement regarding Contract Rights Renewal

OFT statement regarding Contract Rights Renewal

 London, 6 September/GNN/ --   OFFICE OF FAIR TRADING News Release (129/07) issued by The Government News Network on 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 on CRR go to www.adjudicator-crr.org.uk.  MEDIA enquiries: 020 7211+ Corinne Gladstone 8899  Alex Hunter  8900 Jonathan Marciano 8133 Nick Spears   8901 Nnenna Oleforo 8898 Out of hours: mobile: 07774 134814 fax messages: 020 7211 8961 Copies of press notices: Ext. 8993 http://www.oft.gov.uk  PUBLIC enquiries: 0845 7224499   enquiries@oft.gov.uk OFT reports and consumer information leaflets are available free from: OFT, PO Box 366, Hayes UB3 1XB 0800 389 3158 oft@ecgroup.uk.com    

Source: Office of Fair Trading

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Profile: International Entertainment