101-480: British Electric Traction Company Limited , renamed BET plc in 1985, was a large British industrial conglomerate . It was once a constituent of the FTSE 100 Index but was acquired by Rentokil in 1996, and the merged company is now known as Rentokil Initial . The company was founded in 1895 as British Electric Traction Company Ltd, with Sir Charles Rivers Wilson as chairman and Emile Garcke as managing director. It
202-429: A market inefficiency , which undervalues the true strength of these stocks. In her 1999 book No Logo , Naomi Klein provides several examples of mergers and acquisitions between media companies designed to create conglomerates to create synergy between them: A relatively new development, Internet conglomerates, such as Alphabet , Google's parent company belong to the modern media conglomerate group and play
303-511: A central service under the STV brand. The company had several disputes with ITV plc in the late 2000s and early 2010s over network programming. STV aimed to broadcast more Scottish programmes at peak times and so removed several key ITV plc programmes from their schedule in July 2009 including The Bill , Midsomer Murders and Lewis . Despite STV's explanation of expense, ITV plc were angered by
404-411: A considerable amount of syndicated unscripted US programmes in daytime during the 90s, such as Judge Judy and The Jerry Springer Show . By 1996, ITV had been quiet with US series in primetime, particularly as Channel 4 and Sky One increased the competition for securing the most popular US dramas and sitcoms. However, that summer, ITV debuted the primetime soap Savannah , in a 9pm Friday slot. It
505-493: A couple of hours after midnight, replacing gambling broadcasts: the time between the news and the shopping is usually kept for re-runs, with ITV repeating its primetime entertainment shows, films, or sports programming from ITV4. ITV continues with its regular scheduled programming after the shopping service finishes at around 3am with showbiz news bulletin FYI Extra and repeats, many of which have on-screen BSL signing for
606-400: A dedicated CITV programming block now broadcasting on ITV2 every morning, from 2 September 2023. Schools programming on the network began in 1957 in some regions and expanded as more regions began broadcasting. It was a contractual obligation for some ITV companies to broadcast schools programming, and this was initially broadcast as part of the normal scheduling. The programmes were moved into
707-486: A disorienting and demoralizing experience for executives at acquired companies—those who were not immediately laid off found themselves at the mercy of the conglomerate's executives in some other distant city. Most conglomerates' headquarters were located on the West Coast or East Coast , while many of their acquisitions were located in the country's interior. Many interior cities were devastated by repeatedly losing
808-549: A focus in Asia.) In Japan, a different model of conglomerate, the keiretsu , evolved. Whereas the Western model of conglomerate consists of a single corporation with multiple subsidiaries controlled by that corporation, the companies in a keiretsu are linked by interlocking shareholdings and a central role of a bank. Mitsui , Mitsubishi , Sumitomo are some of Japan's best-known keiretsu, reaching from automobile manufacturing to
909-553: A joint arrangement with ABC Weekend TV , the holder of the weekend Midlands and North of England franchises, to form Thames Television . As a result of this re-allocation of interests, ABC took a controlling 51% interest in Thames Television, although the profits were split 50/50 between ABC and Rediffusion. Thames Television was given the new weekday London franchise. BET sold its interest in Thames Television in 1985. Between 1955 and 1968 BET made other acquisitions in
1010-529: A light-touch regulator, the ITC ; companies became able to purchase other ITV regional companies and franchises were now being awarded based upon a highest-bidder auction, with few safeguards in place. This heavily criticised part of the review saw four operators replaced, and the operators facing different annual payments to the Treasury : Central Independent Television, for example, paid only £2,000—despite holding
1111-451: A lucrative and large region—because it was unopposed, while Yorkshire Television paid £37.7 million for a region of the same size and status, owing to heavy competition. Following the 1993 changes, ITV as a network began to consolidate with several companies doing so to save money by ceasing the duplication of services present when they were all separate companies. By 2004, the ITV network
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#17327805540251212-497: A major role within various industries, such as brand management . In most cases, Internet conglomerates consist of corporations that own several medium-sized online or hybrid online-offline projects. In many cases, newly joined corporations get higher returns on investment , access to business contacts, and better rates on loans from various banks. Similar to other industries many companies can be termed as conglomerates. ITV (TV network) ITV , legally known as Channel 3 ,
1313-737: A monthly political programme, most non-news regional programming in the English regions was dropped by ITV plc in 2009, although it continues in Wales and the Channel Islands, as well as on STV and UTV and ITV Border in Scotland from 2014 to cover mainly Scottish politics whilst ITV Border in England broadcast network programming . On 14 January 2013, ITV plc regional news programmes titles were discontinued in favour of more generic branding under
1414-485: A public service broadcaster, the ITV network is obliged to broadcast programming of public importance, including news, current affairs, children's and religious programming as well as party election broadcasts on behalf of the major political parties and political events, such as the Budget. The network also needs to produce accessible output containing subtitles, signing and audio description. In exchange for this programming,
1515-489: A segment for broadcast during the day in the 1960s, under the banner Independent Television for Schools and Colleges and from 1987 were broadcast on Channel 4 in the ITV Schools on Channel 4 segment. In 1993, this segment became Channel 4 Schools and later in 2000 4Learning . These strands of programming consisted of schools programming from all the ITV companies or from independent sources. The schools strand itself
1616-462: A sign language service within the broadcast as part of its quota and licence requirements. ITV's strong daytime line-up helped by programmes such as This Morning , Loose Women , Dickinson's Real Deal and game shows Tipping Point and The Chase are very popular, achieving the highest audience share during the daytime slot. In recent years the network has tried to use formats that ITV Studios own outright (whether they have originated in
1717-639: A small slice of many companies in a fund rather than owning shares in a conglomerate. Another example of a successful conglomerate is Warren Buffett 's Berkshire Hathaway , a holding company which used surplus capital from its insurance subsidiaries to invest in businesses across a variety of industries. The end of the First World War caused a brief economic crisis in Weimar Germany , permitting entrepreneurs to buy businesses at rock-bottom prices. The most successful, Hugo Stinnes , established
1818-567: A subsidiary in 1955. In 1950 BET took a 10% interest in Initial. The stake was gradually increased until 1985, when BET took over Initial. In 1971 BET acquired Biffa , and also acquired Re-Chem International, which specialised in toxic industrial waste processing. In the 1980s conglomerates such as BET fell out of favour, and BET extracted itself from some business sectors. Its interests in Thames Television were sold in 1985, and
1919-543: A substantial minority interest in Broadcast Relay Service Ltd, trading as Rediffusion , which distributed radio and television signals though wired relay networks. BET acquired a controlling interest in 1967, and the remaining 36% in 1983. When ITV commercial television started in the UK in 1955, Rediffusion formed Associated-Rediffusion with Associated Newspapers with BET's financial backing, and won
2020-405: Is a British free-to-air public broadcast television network. It is branded as ITV1 in most of the UK except for central and northern Scotland, where it is branded as STV . It was launched in 1955 as Independent Television to provide competition, eliminating what had been the monopoly of BBC Television (established in 1936). ITV is the oldest commercial network in the UK. Since the passing of
2121-472: Is currently China's largest civilian-run conglomerate by revenue. In South Korea , the chaebol is a type of conglomerate owned and operated by a family. A chaebol is also inheritable, as most of the current presidents of chaebols succeeded their fathers or grandfathers. Some of the largest and most well-known Korean chaebols are Samsung , LG , Hyundai Kia and SK . In India, family-owned enterprises became some of Asia's largest conglomerates, such as
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#17327805540252222-425: Is not owned or operated by one company, but by a number of licensees, which provide regional services while also broadcasting programmes across the network. Since 2016, the fifteen licences are held by two companies, with the majority held by ITV Broadcasting Limited, part of ITV plc. The network is regulated by the media regulator Ofcom who is responsible for awarding the broadcast licences. The last major review of
2323-453: Is now defunct, with no particular branding segment used. ITV was originally very reliant on broadcasting American series, with westerns such as Gunsmoke and Rawhide in particular being considerable successes for the network during its earlier years. Action drama The Fugitive and sci-fi anthology The Twilight Zone were also broadcast by various regions in the early 1960s, with Batman and I Dream of Jeannie shown later on in
2424-567: The ITV News title with the region listed as the subheading. However some "heritage" brand names were retained including Calendar , Granada Reports and Lookaround . On 28 June 2014, ITV News Cymru Wales returned to its historic name of Wales at Six . The network broadcasts children's programming under the CITV (Children's ITV) strand. Children's programming was originally provided during weekday afternoons and weekend mornings, however following
2525-571: The Aditya Birla Group , Tata Group , Emami , Kirloskar Group , Larsen & Toubro , Mahindra Group , Bajaj Group , ITC Limited , Essar Group , Reliance Industries , Adani Group and the Bharti Enterprises . In Brazil the most important conglomerates are J&F Investimentos , Odebrecht , Itaúsa , Camargo Corrêa , Votorantim Group , Andrade Gutierrez , and Queiroz Galvão. In New Zealand, Fletcher Challenge
2626-500: The Broadcasting Act 1990 , it has been legally known as Channel 3 to distinguish it from the other analogue channels at the time: BBC1 , BBC2 and Channel 4 . ITV was for four decades a network of separate companies that provided regional television services and also shared programmes among themselves to be shown on the entire network. Each franchise was originally owned by a different company. After several mergers,
2727-583: The ITV News brand. ITN has long been respected in the news industry as a source of reliable information and news, and as a result the service has won many awards for their programmes, the latest being in May 2011 when News at Ten was named best news programme by the Royal Television Society and BAFTA . The ITV National Weather forecast was first broadcast in 1989, using data supplied by
2828-833: The Independent Television Authority (ITA, then IBA after the Sound Broadcasting Act) to heavily regulate the industry and to award franchises. The first six franchises were awarded in 1954 for London, the Midlands and the North of England, with separate franchises for Weekdays and Weekends. The first ITV service to launch was London's Associated-Rediffusion on 22 September 1955, with the Midlands and North services launching in February 1956 and May 1956 respectively. Following these launches,
2929-459: The Met Office , and was presented by a number of weather forecasters. The forecasts are sponsored with the sponsor's message appearing before and after the forecast. The forecasts are made immediately after the main national news bulletins. Prior to the creation of the national forecast, each regional company provided its own regional forecast. The regional forecasts today are incorporated into
3030-614: The Transport Holding Company ) held minority interests in many of BET's UK bus subsidiaries, and in late 1967 BET sold its UK bus interests to the Transport Holding Company , to become part of the National Bus Company . United Transport had passenger transport and freight interests in southern Africa. BET owned and operated Jamaica Omnibus Service , a 600-bus operation in Kingston, Jamaica, until it
3131-652: The United States , conglomerates became popular in the 1960s as a form of economic bubble driven by low interest rates and leveraged buyouts. However, many of them collapsed or were broken up in the 1980s due to poor performance, accounting scandals, and antitrust regulation. In contrast, conglomerates have remained prevalent in Asia, especially in China , Japan , South Korea , and India . In mainland China , many state-affiliated enterprises have gone through high value mergers and acquisitions , resulting in some of
British Electric Traction - Misplaced Pages Continue
3232-462: The Unwind slot, but this was eventually phased out and replaced with the aforementioned news and information service. This overnight programme service is very different to what used to be shown on the network in the years after 24-hour broadcasting was introduced - this included new entertainment, imports, sports and other information programmes, and, in some regions, a job finder service, however due to
3333-906: The Unwind with ITV sequences to fill small pieces of time before this. Teleshopping on ITVBe starts at 01:00 and continues until 07:00. There are some occasions when other coverage means this cycle of programmes get misplaced, for example a live event overnight, such as the Super Bowl or the Oscars , both of which ITV started airing in 2024, or, over Christmas, failing to sell Teleshopping slots, meaning more repeats, films and long Unwind sequences are used as filler instead. Overnight, STV broadcasts an overnight rolling news and information service, mixing reports from STV News and other information-based services, instead of ITV's shopping slot and Unwind . Due to STV opt-outs, this service can start later than or earlier than ITV's teleshopping. STV originally simulcast
3434-579: The highest value business transactions of all time. These conglomerates have strong ties with the government and preferential policies and access to capital. During the 1960s, the United States was caught up in a "conglomerate fad " which turned out to be a form of an economic bubble . Due to a combination of low interest rates and a repeating bear-bull market , conglomerates were able to buy smaller companies in leveraged buyouts (sometimes at temporarily deflated values). Famous examples from
3535-440: The 1960s include Gulf and Western Industries , Ling-Temco-Vought , ITT Corporation , Litton Industries , Textron , and Teledyne . The trick was to look for acquisition targets with solid earnings and much lower price–earnings ratios than the acquirer. The conglomerate would make a tender offer to the target's shareholders at a princely premium to the target's current stock price. Upon obtaining shareholder approval,
3636-627: The 1980s, General Electric also moved into financing and financial services , which in 2005 accounted for about 45% of the company's net earnings. GE formerly owned a minority interest in NBCUniversal , which owns the NBC television network and several other cable networks . United Technologies was also a successful conglomerate until it was dismantled in the late 2010s. With the spread of mutual funds (especially index funds since 1976), investors could more easily obtain diversification by owning
3737-667: The 75% limit as possible. The group cut the number of regional news programmes offered from 17 in 2007 to 9 by 2009, resulting several regions being merged to form one programme, including the Border and Tyne Tees regions, the Westcountry and West regions and the removal of sub regional programming, with some regions only represented by pre-recorded segments. Sub-regions were restored in 2013. STV Group plc owns two franchises, covering central and northern Scotland, through subsidiary companies STV Central and STV North, broadcasting
3838-538: The Channel 3 franchises was in 1991, with all operators' licences having been renewed between 1999 and 2002 and again from 2014 without a further contest. While this has been the longest period that the ITV network has gone without a major review of its licence holders, Ofcom announced (following consultation) that it would split the Wales and West licence from 1 January 2014, creating a national licence for Wales and joining
3939-499: The ITA awarded more franchises until the whole country was covered by fourteen regional stations, all launched by 1962. The network has been modified several times through franchise reviews that have taken place in 1963, 1967, 1974, 1980 and 1991, during which broadcast regions have changed and service operators have been replaced. Only one service operator has ever been declared bankrupt, WWN in 1963, with all other operators leaving
4040-760: The ITV network is available on all platforms free to air and can be found at the top of the EPG of all providers. Since the launch of the platform in 1998, all of the ITV licensees have received gifted capacity on the digital terrestrial television platform. At present, the companies are able to broadcast additional channels and all choose to broadcast the ITV plc owned ITV2 , ITV3 , ITV4 and ITVBe in their region. UTV and STV (formerly Scottish Television and Grampian Television ) previously broadcast their own services – UTV2 in Northern Ireland and S2 in central and northern Scotland – until 2002, when they adopted
4141-538: The ITV network's history goes back to 1955, many regional franchisees changed over the years. Some of the most important names in the network's past – notably Thames , ABC and ATV – have no connection with the modern network. The origins of ITV lie in the passing of the Television Act 1954 , designed to break the monopoly on television held by the BBC Television Service . The act created
British Electric Traction - Misplaced Pages Continue
4242-799: The ITV plc channels. Despite this, STV was given a broadcasting licence for what would become the STV2 channel in 2013, however this was short-lived and the channel closed in 2018. The broadcasters all make use of the Digital 3&4 multiplex, shared with Channel 4 . CITV launched in March 2006 (closed September 2023). ITV Encore launched in June 2014 (closed May 2018) and ITVBe launched in October 2014. ITV Box Office launched in February 2017 (closed January 2020). On 13 September 2022, ITV confirmed that during
4343-470: The London weekday broadcast franchise. In the beginning, Associated Rediffusion lost money. By the end of 1956 Associated Newspapers sold 80% of its stake back to BET and Rediffusion at a severe loss. Around that same time, Associated Rediffusion struck a very favourable deal with Granada Television , the franchise holder for weekday broadcasts in the North of England. Granada was also losing money, and lacked
4444-593: The Metropolitan Electric and South Metropolitan systems in London, as well as systems in Barnsley, Barrow-in-Furness, Birmingham, Birmingham and Midland, Brighton and Shoreham, Cambridge, Devonport and District, Dewsbury Ossett and Soothill Nether, Dudley and Stourbridge, Gateshead, Gravesend, Great Yarmouth, Hartlepool, Jarrow, Kidderminster and Stourport, Leamington and Warwick, Mexborough and Swinton, Middleton, Oldham Ashton and Hyde, Peterborough, Poole,
4545-581: The Potteries, Rossendale Valley, Sheerness, South Staffordshire, Southport, South Shields, Taunton, Tynemouth, Weston-Super-Mare, Wolverhampton District, Worcester, and Yorkshire (Woollen District). In Wales In Scotland In Northern Ireland The last BET tram ran on 4 August 1951, when the Gateshead and District Tramways Company replaced its trams with buses. In 1905 a subsidiary was formed to operate motor buses, which became increasingly important to
4646-545: The UK with their Lifted Entertainment company or have come from production companies they own abroad), though some popular programme formats like The Masked Singer have still been acquired from other companies abroad. Currently ITV are behind the formats for Dancing on Ice , The Voice UK (the format originally coming from their Dutch production company) and I'm a Celebrity...Get Me Out of Here! , while forthcoming music game show Walk The Line has been co-developed by Simon Cowell's Syco Entertainment and ITV. Since
4747-603: The United States, some of the examples are The Walt Disney Company , Warner Bros. Discovery and The Trump Organization (see below). In Canada, one of the examples is Hudson's Bay Company . Another such conglomerate is J.D. Irving, Limited , which controls a large portion of the economic activities as well as media in the Province of New Brunswick . Some cite the decreased cost of conglomerate stock (a phenomenon known as conglomerate discount ) as evidential of these disadvantages, while other traders believe this tendency to be
4848-400: The breakfast service. All licences listed here were renewed until the end of 2024. Licences in England and Wales were held by the individual regional ITV plc owned companies prior to November 2008. The appointment to provide national news for Channel 3 is also subject to approval by Ofcom. This appointment has been held by ITN since the channel's inception, and has also been approved through
4949-455: The conglomerate usually settled the transaction in something other than cash, like debentures , bonds , warrants or convertible debentures (issuing the latter two would effectively dilute its shareholders down the road, but many shareholders at the time were not thinking that far ahead). The conglomerate would then add the target's earnings to its earnings, thereby increasing the conglomerate's overall earnings per share . In finance jargon,
5050-399: The creation of ITV Network Limited (and given Channel Television is now owned by ITV plc), it has been replaced by an affiliation system. Approved by Ofcom, this results in ITV plc commissioning and funding the network schedule, with STV and UTV paying a fee to broadcast it. All licensees have the right to opt out of network programming (except for the national news bulletins), but, unlike
5151-456: The day of Monday 19 September, the day of the state funeral for Her Majesty Queen Elizabeth II , all programming schedules on ITV's digital channels will be scrapped, with the main ITV News coverage being shown live and uninterrupted on every channel. This was the first time ITV decided to do this, with the company keeping their digital channels' schedules mostly as advertised in the run up to
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#17327805540255252-560: The deaf community. Replacing the information-based ITV Nightscreen slot in 2021 was Unwind With ITV , programming produced in association with the Campaign Against Living Miserably . At around 4am each night this mindfulness programme shows calming shots of natural landscapes and relaxing animations for around an hour, with versions of the footage also seen on ITV2, ITV3 and ITV4. These three channels continue programming until around 02:30, sometimes using
5353-400: The decade. Due to the varying schedules of many ITV regions, acquired content was not broadcast by some franchises. By the 1970s, most ITV regions were airing the likes of Hawaii Five-O , Happy Days , and The Brady Bunch . 1972 also saw the beginning of ITV's daytime programmes at lunchtime, a slot that would become associated with the many Australian soap operas that were broadcast in
5454-436: The decision, as a recent schedule change had made The Bill central to their programming, and broadcast the programmes on ITV3 as well to ensure Scottish viewers could see the programmes. On 23 September ITV plc was reported to be in the process of suing STV for £20 million, as ITV felt dropping the shows constituted a breach of network agreements; STV subsequently counter-sued ITV plc for £35 million. The dispute
5555-467: The end came in January 1968, when Litton shocked Wall Street by announcing a quarterly profit of only 21 cents per share, versus 63 cents for the previous year's quarter. This was "just a decline in earnings of about 19 percent", not an actual loss or a corporate scandal, and "yet the stock was crushed, plummeting from $ 90 to $ 53". It would take two more years before it was clear that the conglomerate fad
5656-411: The end of 2024. For over 60 years of ITV, its homegrown programmes have become among the best remembered as well as being extremely successful. Before the 1990s, nearly all of the content for the channel was produced by the fifteen franchise licensees: the regional companies. However, following legislation in the Broadcasting Act 1990 imposing a 25% quota for commissioning of independent productions,
5757-485: The end of their runs. A heavy emphasis on action, fantasy and science fiction series was also placed by ITV during this 1980s, with The A-Team , Buck Rogers in the 25th Century , and Airwolf being broadcast by the network, as well as the likes of Baywatch and SeaQuest DSV by the 1990s. ITV also picked up a glut of older-skewing CBS dramas through that period, including Murder, She Wrote and Dr. Quinn, Medicine Woman . In February 1989, in tandem with
5858-471: The ending of productions such as World in Action ( Granada Television ), This Week ( Rediffusion London / Thames Television ), First Tuesday ( Yorkshire Television ), Network First , Survival ( Anglia Television ), and Weekend World ( LWT ) and their replacement with populist shows such as Tonight . News at Ten was also axed in 1999, although it was reinstated in 2001. In December 2009,
5959-771: The examples are Adamjee Group , Dawood Hercules , House of Habib , Lakson Group and Nishat Group . In the Philippines , the largest conglomerate of the country is the Ayala Corporation which focuses on malls , bank , real estate development , and telecommunications . The other big conglomerates in the Philippines included JG Summit Holdings , Lopez Holdings Corporation , ABS-CBN Corporation , GMA Network, Inc. , MediaQuest Holdings , TV5 Network, Inc. , SM Investments Corporation , Metro Pacific Investments Corporation , and San Miguel Corporation . In
6060-718: The fields of sports coverage and drama productions, and it continues to schedule national news in primetime. Breakfast Television programmes have been broadcast on ITV at breakfast since 1 February 1983. It was initially run by an independent contractor - TV-am , and later GMTV - until GMTV Limited became a wholly owned subsidiary of ITV plc in November 2009. Historically, ITV aired breakfast programmes from 6am until 9.25am but ITV extended this to 10am on weekdays on 6 January 2020. and now broadcasts two breakfast programmes on weekdays - Good Morning Britain and Lorraine . Good Morning Britain keeps viewers up to date with all
6161-668: The fifteen regional franchises are now held by two companies: ITV plc , which runs the ITV1 channel and the UTV channel – now branded as ITV1, and STV Group , which runs the STV channel . The ITV network is a separate entity from ITV plc, the company that resulted from the merger of Granada plc and Carlton Communications in 2004. ITV plc holds the Channel 3 broadcasting licences for every region except for central and northern Scotland, which are held by STV Group. Today, ITV plc simply commissions
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#17327805540256262-497: The final edition of ITV's long-running arts programme, The South Bank Show was broadcast. ITV's primetime schedules are dominated by its soap operas, such as the flagship Coronation Street and Emmerdale . At the start of the 21st century, ITV faced criticism for including a large amount of "reality TV" programmes in the schedule, such as Celebrity Fit Club , Celebrity Wrestling and Celebrity Love Island . In its defence, ITV does continue to show its major strengths in
6363-433: The financial resources of BET; the deal guaranteed Granada a certain level of financial security, at the cost of Associated-Rediffusion receiving the vast majority of future profits from their arrangement. By 1964, when Associated Rediffusion changed its name to Rediffusion London, its efforts had left it sitting on a mountain of cash. But in 1967 the Independent Television Authority ordered Rediffusion London to enter into
6464-504: The funeral (with a few amendments for cancelled sporting events on ITV4) and all royal coverage being on their main channel. ITV plc owns thirteen of the fifteen franchises and broadcasts to England, Wales, southern Scotland, the Isle of Man, the Channel Islands and Northern Ireland through its subsidiary company ITV Broadcasting Limited. The company also owns the breakfast television licence , which as of January 2020, broadcasts across
6565-570: The group as many municipalities were compulsorily acquiring company-owned tram networks in their areas. Nationalisation of BET's electricity generation and distribution activities took place in 1947 leaving BET with a portfolio of bus companies, a number of miscellaneous investments, and a cash pile. The company embarked on a programme of acquisitions, with particular emphases on transport, leisure and entertainment, printing and publishing, construction and plant hire, textile maintenance and waste management. From 1949 until 1967 BET continued to be one of
6666-719: The headquarters of corporations to mergers, in which independent ventures were reduced to subsidiaries of conglomerates based in New York or Los Angeles. Pittsburgh, for example, lost about a dozen. The terror instilled by the mere prospect of such harsh consequences for executives and their home cities meant that fending off takeovers, real or imagined, was a constant distraction for executives at all corporations seen as choice acquisition targets during this era. The chain reaction of rapid growth through acquisitions could not last forever. When interest rates rose to offset rising inflation, conglomerate profits began to fall. The beginning of
6767-472: The latest news, sports, features and weather, whilst Lorraine predominantly focuses on celebrity interviews, recipes, fashion and showbiz. Until 27th August 2023, the service would show a simulcast of the CITV channel, but since that service has closen has shown a mix of repeated programming whilst the CITV service that still exist broadcasts at breakfast time on ITV2 (which has the CITV block), ITV3, ITV4 and ITVBe from 7am show other repeats some of which provide
6868-568: The launch of the CITV channel in 2006, all children's programming, with the exception of the weekend ITV Breakfast slot, were relocated from the ITV line-up to the CITV channel in 2007, a move which was challenged by Ofcom in April 2007. In 2023, ITV announced that CITV would cease broadcasting as a linear channel, and would be replaced by ITVX Kids , a streaming media service which launched in July 2023. The CITV channel closed on 1 September 2023, with
6969-578: The leisure sector, including a controlling interest in Wembley Stadium Ltd, which was sold in 1985. BET acquired the Argus Press group in 1966. BET acquired Eddison Plant Ltd in 1949, and expanded into construction after the sale of its bus interests in 1968. It acquired Boulton & Paul Ltd and Grayston Ltd. Murphy Bros. Limited with interests in civil engineering, opencast coal mining, building materials production and plant hire
7070-420: The main regional news bulletins, and in the summer months, includes a pollen count. Currently only new episodes of long-form news and current affairs programmes like Exposure , Peston and On Assignment are being scheduled after News at Ten , with the latter title only appearing on a monthly basis, typically on the last Tuesday of the month. The channel broadcasts a partnership teleshopping service for
7171-503: The most powerful private economic conglomerate in 1920s Europe – Stinnes Enterprises – which embraced sectors as diverse as manufacturing, mining, shipbuilding, hotels, newspapers, and other enterprises. The best-known British conglomerate was Hanson plc . It followed a rather different timescale than the U.S. examples mentioned above, as it was founded in 1964 and ceased to be a conglomerate when it split itself into four separate listed companies between 1995 and 1997. In Hong Kong, some of
7272-448: The network as a result of a franchise review. Separate weekend franchises were removed in 1968 (with the exception of London) and over the years more services were added; these included a national breakfast franchise from 1983 onward—operating between 6:00 am and 9:25 am—and a teletext service. The Broadcasting Act 1990 changed the nature of ITV; the then regulator the IBA was replaced with
7373-527: The network between 6:00 and 10:00am each morning using the Good Morning Britain (previously Daybreak ) and Lorraine names. The company broadcasts a centralised service under the ITV1 brand. In Northern Ireland, ITV used the UTV brand name as the name of the channel until April 2020. The group also owns ITV Studios , the production arm of the company and formed from an amalgamation of all
7474-526: The network launching its national weather forecast, and as part of a new early evening lineup which involved the shortening of Children's ITV, Australian soap Home and Away was acquired by ITV, particularly to compete with the success of rival Australian soap opera Neighbours on BBC One. ITV also broadcast Beverly Hills, 90210 beginning in early 1991, in the same Saturday teatime slot that Baywatch had occupied, although some episodes were broadcast in later time slots. It moved to Sky One beginning with
7575-511: The network schedule centrally; programmes are made by its own subsidiary ITV Studios and independent production companies. Regional programming remains in news and some current affairs series. In Northern Ireland, ITV plc used the brand name UTV as the name of the channel, until the ITV channel was rebranded as ITV1; it is still, however, used for local programming shown there. This was the name used by former owner UTV Media (now known as News Broadcasting ). ITV plc bought UTV in 2016. Although
7676-476: The network started, Independent Television News Limited (ITN) has held the contract to produce news for the ITV network, with 30-minute national news bulletins currently broadcast at 1:30 pm , and 10:00 pm, and an hour-long bulletin at 6.30pm. These bulletins were broadcast under the ITN brand from 1955 until 1999, when a new network identity reinforced the ITV brand, resulting in the new bulletins being broadcast under
7777-652: The new businesses they had recently purchased, and by the mid-1970s most conglomerates had been reduced to shells. The conglomerate fad was subsequently replaced by newer ideas like focusing on a company's core competency and unlocking shareholder value (which often translate into spin-offs ). In other cases, conglomerates are formed for genuine interests of diversification rather than manipulation of paper return on investment. Companies with this orientation would only make acquisitions or start new branches in other sectors when they believed this would increase profitability or stability by sharing risks. Flush with cash during
7878-531: The newly expanded schedule, including The Sullivans and The Young Doctors . By the 1980s, more were added to the schedule, such as Sons and Daughters and A Country Practice . In primetime by the 1980s, ITV was broadcasting the likes of Hill Street Blues (which ITV began showing just one week after its debut on NBC in the United States) and L.A. Law . It was also early in the decade when Australian evening soap opera Prisoner: Cell Block H
7979-408: The newly separated West region to Westcountry Television , to form a new licence for the enlarged South West of England region. All companies holding a licence were part of the non-profit body ITV Network Limited, which commissioned and scheduled network programming, with compliance previously handled by ITV plc and Channel Television . However, due to amalgamation of several of these companies since
8080-517: The number of programmes from independent production companies not connected to the traditional ITV network, has increased rapidly. Notable examples include Talkback Thames (one half of which, Thames Television , was itself a former ITV franchisee), producers of The Bill and co-producers of The X Factor , and 2waytraffic , producers of Who Wants to Be a Millionaire? . From the late 1990s, ITV's long-standing commitment to strong current affairs and documentary programming began to diminish with
8181-731: The parent company. Conglomerates are often large and multinational corporations that have a global presence and a diversified portfolio of products and services. Conglomerates can be formed by merger and acquisitions , spin-offs , or joint ventures . Conglomerates are common in many countries and sectors, such as media , banking , energy , mining , manufacturing , retail , defense , and transportation . This type of organization aims to achieve economies of scale , market power, risk diversification , and financial synergy. However, they also face challenges such as complexity, bureaucracy , agency problems, and regulation . The popularity of conglomerates has varied over time and across regions. In
8282-454: The previous system, will receive no fee refund for doing so. Therefore many do not opt out due to pressures from the parent company or because of limited resources. Prior to the affiliate system being introduced, STV would frequently (and sometimes controversially) opt out of several popular network programmes – such as the original run of the first series of Downton Abbey – citing the need to provide more Scottish content to its viewers. As
8383-512: The production departments of the regional licences they own. The company produces a large proportion of ITV's networked programming (around 47%, but previously as high as 66% according to some reports ), with the rest coming primarily from independent suppliers (under the Broadcasting Act 1990, at least 25% of ITV's total output must be from independent companies). ITV plc hopes to increase the amount of in-house programming to as close to
8484-714: The production of electronics such as televisions. While not a keiretsu, Sony is an example of a modern Japanese conglomerate with operations in consumer electronics , video games , the music industry , television and film production and distribution , financial services , and telecommunications . In China, many of the country's conglomerates are state-owned enterprises , but there is a substantial number of private conglomerates. Notable conglomerates include BYD , CIMC , China Merchants Bank , Huawei , JXD , Meizu , Ping An Insurance , TCL , Tencent , TP-Link , ZTE , Legend Holdings , Dalian Wanda Group , China Poly Group , Beijing Enterprises , and Fosun International . Fosun
8585-525: The rest of Rediffusion soon followed. BET sold its 75 per cent shareholding in Humphries Holdings PLC to Lee International PLC for £2.5 million in 1985. Rediffusion Simulation was sold in 1988 to Hughes Aircraft . In 1991 Biffa was sold to Severn Trent Water plc. BET also sold its construction interests. BET retained the profitable laundry and linen rental businesses, and also the shipping businesses of United Transport. In 1996 BET
8686-643: The small audience this was phased out and replaced by more relaxed and niche programming. Before 24-hour broadcasts, ITV's franchises simply closed down and restarted the following morning with ITV Morning News , followed by breakfast TV. The regional ITV companies are required to provide local news as part of their franchise agreement together with local weather forecasts, with the main local bulletin at 6pm and regional bulletins located after each national news programme. In addition to this, traditionally ITV companies would provide other regional programming based on current affairs, entertainment or drama. However, apart from
8787-623: The third season. ITV reshuffled its daytime schedules in the Autumn of 1993, and just a few months prior, Central began broadcasting the New Zealand soap opera Shortland Street . The revamp saw more ITV companies pick it up, with Scottish Television the only region to reject the series outright. Central also broadcast the Australian soap opera Echo Point around the same time, although no other franchises picked it up. ITV also aired
8888-406: The transaction was " accretive to earnings." The relatively lax accounting standards of the time meant that accountants were often able to get away with creative mathematics in calculating the conglomerate's post-acquisition consolidated earnings numbers. In turn, the price of the conglomerate's stock would go up, thereby re-establishing its previous price-earnings ratio, and then it could repeat
8989-686: The two major bus groups in the UK, alongside the state-owned Tilling Group (owned by the British Transport Commission and from 1963 by the Transport Holding Company ). In 1956 BET acquired a 20% interest in United Transport Company, the rump of the old Red & White company, increased to 100% in 1971. United Transport continued with its freight road haulage business (Bulwark Transport), and also moved into shipping, particularly containers and tank containers. The British Transport Commission (and later
9090-425: The well-known conglomerates include Jardine Matheson (AD1824), Swire Group (AD1816), (British companies, one Scottish one English; companies that have a history of over 150 years and have business interests that span across four continents with a focus in Asia.) C K Hutchison Whampoa (now CK Hutchison Holdings ), Sino Group , (both Asian-owned companies specialize business such as real estate and hospitality with
9191-613: The whole process with a new target. In plain English, conglomerates were using rapid acquisitions to create the illusion of rapid growth. In 1968, the peak year of the conglomerate fad, U.S. corporations completed a record number of mergers: approximately 4,500. In that year, at least 26 of the country's 500 largest corporations were acquired, of which 12 had assets above $ 250 million. All this complex company reorganization had very real consequences for people who worked for companies that were either acquired by conglomerates or were seen as likely to be acquired by them. Acquisitions were
9292-515: Was a considerable success for ITV's standards, and it became the highest rated new American series of that year. Despite this success, ITV moved the show for its second season, no longer networking the series and moving to late night slots. ITV tried again at broadcasting an American drama series in September 1997, with the ABC legal drama The Practice , which ran in the same slot that Savannah had
9393-531: Was acquired by the much smaller Rentokil , after a hostile take-over bid. The merged company was named Rentokil Initial. Conglomerate (company) A conglomerate ( / k ə ŋ ˈ ɡ l ɒ m ə r ə t / ) is a type of multi-industry company that consists of several different and unrelated business entities that operate in various industries. A conglomerate usually has a parent company that owns and controls many subsidiaries , which are legally independent but financially and strategically dependent on
9494-610: Was acquired in 1968. BET acquired Shifnal, Shropshire based Wrekin Construction Company Limited in 1972 and divested the business to its founder Tom Frain in 1983 for £3 million. In 1985 BET acquired the crane company G W Sparrow & Sons plc, and combined its craneage interests into a new subsidiary, Grayston White and Sparrow. BET entered the laundry business in 1934, and in 1935 acquired an interest in Advance Linen Services, which became
9595-438: Was bought by ITV, and was broadcast after News at Ten . By 1982, Channel 4 had launched, and despite originally being related to ITV, it competed against its parent network to screen popular American programmes such as St. Elsewhere and Cheers , although the latter did receive a single ITV broadcast as part of a night showcasing Channel 4 programmes. Both Hill Street Blues and L.A. Law had moved from ITV to Channel 4 by
9696-420: Was ended in 2011 with STV agreeing to pay ITV plc £18 million. The signing of the new affiliation deal has resulted in STV paying a flat fee for all networked programming, and so to drop any programmes is unlikely due to the large costs involved. There are fifteen regional licences, covering fourteen regions (there are separate weekday and weekend licences for the London region), and one national licence for
9797-462: Was formed in 1981 from the merger of Fletcher Holdings , Challenge Corporation, and Tasman Pulp & Paper, in an attempt to create a New Zealand-based multi-national company. At the time, the newly merged company dealt in construction, building supplies, pulp and paper mills, forestry, and oil & gas. Following a series of bungled investments, the company demerged in the early 2000s to concentrate on building and construction. In Pakistan , some of
9898-638: Was involved in the electrification of tramways in British towns and cities, and also in Australia and New Zealand , for example in Auckland . From operating trams, BET moved on to manufacturing them with the purchase of Brush Electrical Engineering Company in 1901. The BET became the largest of the private owners of tramways in the British Isles. During its history, it gained control in England of
9999-783: Was nationalised by the Jamaican Government in 1974. In January 1987 BET briefly reentered the UK bus market, when United Transport formed the Bee Line Buzz Company to operate minibus services in the Manchester area, and started a similar operation in Preston called Zippy. The company was headquartered in Didcot, South Oxfordshire. However, in 1988 United sold Bee Line and Zippy to Ribble Motor Services (coincidentally once owned by BET). In 1947 BET acquired
10100-487: Was on its way out. The stock market eventually figured out that the conglomerates' bloated and inefficient businesses were as cyclical as any others—indeed, it was that cyclical nature that had caused such businesses to be such undervalued acquisition targets in the first place —and their descent put "the lie to the claim that diversification allowed them to ride out a downturn." A major selloff of conglomerate shares ensued. To keep going, many conglomerates were forced to shed
10201-498: Was owned by five companies, of which two, Carlton and Granada had become major players by owning between them all the franchises in England, Wales, the Scottish borders and the Isle of Man. That same year, the two merged to form ITV plc with the only subsequent acquisitions being the takeover of Channel Television , the Channel Islands franchise, in 2011; and UTV, the franchise for Northern Ireland, in 2015. The ITV network
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