ITV suffers steepest advertising slump in its history amid pandemic

Shares in ITV fell almost 4% on Thursday morning, after Britain’s biggest free-to-air commercial broadcaster suffered the steepest advertising decline in its 65-year history as the coronavirus pandemic wiped out advertising revenues and shut down the production of shows.

The FTSE 100-listed company said ad revenue for the second quarter fell 43%, driving a 17% decline in total group revenue for the six months to the end of June to £1.5 billion ($1.98 billion). Adjusted earnings...