SMG Disputes Financial Relationship with ITV

The owners of Scottish television station, stv, are to hire an independent auditor to ascertain the financial relationship it has with ITV plc – which owns all the ITV regional franchises in the UK except in Scotland, Ulster and the Channel Islands.

It follows yesterday’s announcement of SMG’s interim results and those of ITV’s almost a fortnight ago. On the one hand, ITV is claiming it subsidises stv, UTV and Channel to the tune of