17th March 2020
2020 European Football Championship postponed until 2021
UEFA have today announced that the 2020 European Football Championship (Euro 2020) is being postponed until 2021. The direct impact will be to reduce ITV's schedule costs in 2020 by £40m to £50m, including the cost of replacement programming. There will be no loss of sponsorship revenue as the tournament is pre-sponsored. We look forward to broadcasting the Euros and providing a significant marketing opportunity for advertisers in 2021, a year which does not have any other large sports tournament.
ITV continues to closely monitor the implications of the Coronavirus and will update the market further as appropriate. Our priority remains to protect our people. Currently ITV's guidance for March and April advertising revenue has not changed.
As we stated at the full year results, ITV has good access to liquidity. We have £830m of undrawn facilities and no bond repayments until September 2022.
For further enquiries please contact:
Investor Relations Pippa Foulds Faye Dipnarine Media Relations Paul Moore Grant Cunningham |
+44 7778 031097 +44 20 7157 6581 +44 7860 794444 +44 7764 210742 |
