'Troubled ITV faces cash crisis'
ITV may be heading for a financial crisis because of increased competition, and could be forced to sell up to a foreign firm, former BBC chairman Gavyn Davies has warned.
He told a lecture yesterday that ITV is threatened by digital and satellite channels such as Sky, and no longer has a "licence to print money". The claims pile pressure on ITV chief executive Charles Allen, after industry rumours he will be replaced by Greg Dyke. An ITV spokeswoman said the network still had mass audiences.
