The former head of BSkyB has been approached by a group of ITV shareholders about taking the top job at the troubled broadcaster.
Tony Ball has been sought out by Legal & General Investment Management (LGIM) about his potential candidacy as ITV embarks on a recruitment drive to replace Michael Grade, who is set to relinquish his role as executive chairman.
It is thought ITV
will next week appoint headhunters to track down an executive to succeed Grade, who will become non-executive chairman before the end of the year.
Ball, who currently chairs the advisory board of European cable operator Kabel Deutschland, is thought to want to be sure of sufficient investor support before considering formal talks.
An experienced industry hand, Ball led BSkyB for four years until his departure in 2003, when he was replaced by Rupert Murdoch's son James.
According to reports yesterday, any interest shown for the position from Ball would stoke City hopes that a turnaround is possible for the troubled broadcaster.
ITV, which has been battered by an advertising slump, announced 600 job cuts in March and a swingeing cost-cutting drive after reporting annual pre-tax losses of £2.73 billion due to asset writedowns and the advertising woes.
The figures forced Grade to admit defeat in his hopes for a content-led turnaround.
A new chief will face several challenges including the continued fall-out from BSkyB's controversial shares swoop at the end of 2006, which scuppered the then-NTL's hopes of a merger with ITV.
The saga has yet to conclude, with BSkyB still pursuing an appeal against the Government's ruling that it must sell down the 17.9 per cent stake – an issue that has hung over ITV and its shares, down more than 70 per cent in the past two years.
Grade, who switched from the BBC to take the ITV job in November 2006, has also worked at London Weekend Television and spent more than nine years as chief executive of Channel 4 Television, from 1988-97. Grade also presided over ITV during the fallout from the viewer phone-in scandal, which saw the company hit with a hefty fine from regulators.
A spokesman for ITV said he was "unaware" of any discussions between investors and Ball and added the firm would not comment on the ongoing recruitment process.
No-one from LGIM was available to comment.
