ITV plc is a United Kingdom-based advertising funded broadcaster. The Company also operates as an advertising funded media owner in the United Kingdom across all media, including television, radio, press, cinema, outdoor and the Internet.
ITV PLC (LON:ITV) has underperformed the FTSE 100 by 25% in the year to date but its stock is still not cheap enough to own amid weak advertising revenues and a shift in TV audiences to online viewing, according to UBS.
Shares in ITV PLC (LON:ITV) came down to earth today after spiking higher late on Friday as hopes for a bid move for the commercial TV broadcaster were fuelled by news that US bank Goldman Sachs' holding in the group had gone above 25%.
ITV's shares rose 4.5% to close at their highest price since last June's referendum as the broadcaster demonstrated again that it is very good these days at generating cash and distributing the spoils to investors.