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Read this: Highs and lows of ITV - TV Radio, Media - The Independent

Summary: ITV's announcement that it is axing 600 jobs comes as it battles to survive the worst advertising downturn in a generation, stiff competition from other networks and an expensive schedule of programming. The production of Heartbeat has been halted and expensive stars, such as Ant and Dec and Simon Cowell, have been warned that future golden handcuffs deals may have to be cut back when their contracts come up for negotiation, it has been reported. The company's difficulties have been made worse by a cash crisis, according to a report in the Guardian, with a 250m bond due to be repaid this month and a 500m bond due by 2011. - link

Highs and lows of ITV - TV Radio, Media …

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