Commercial web Five is considering ending its contract with ITN if ITV's two biggest shareholders, Carlton and Granada, take control of the news provider.
Five is concerned that ITV will exert more editorial influence over day-to-day operations and decisions at ITN if it is allowed to up its stake to 40%. Carlton and Granada along with Reuters, United Business Media and Daily Mail & General Trust each own 20% stakes in ITN.
The proposed Communications Bill, being debated in Parliament, will allow a ceiling of 40% ownership. Five's contract, which runs out in 2004, is worth between £6 million-£7 million ($10 million-$11.62 million) to ITN, which generates annual revenues of $149 million, largely from ITV. It also provides news to Channel 4.
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