ITV update doesn’t inspire investors

The price of shares in broadcaster ITV (LON:ITV) dropped by 2.63% to 57.70p (as of 10:55 GMT) as it outlined the steps it is taking to reduce costs and manage cash during the COVID crisis. Management has implemented a salary and hiring freeze as well as a 20% cut in remuneration and no bonuses for the board in 2020.

The company said it would continue to monitor the situation as it develops.