ITV is struggling against the CRR - the mechanism which regulates its advertising prices. True, it's facing the situation which BT watchers will recognise - being regulated as a dominant player while having lost the market share which made it dominant.
But one line in the Guardian report made me sit up. It said that ITV wants to increase its prices to make up for shrinking audiences.
Er... hang on. The value of TV advertising is entirely based on how many people get to see it. So what ITV seems to be saying is; our product is now worth less than it used to be, so we think you should be paying us more.
That's so economically illiterate it really took my breath away for a moment.
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