City File: HTV in the red

The red ink will be flowing when HTV Group brings out its full-year results on Friday. Louis Sherwood, the ITV company's chairman, has had to take some drastic action to cut costs, after the company bid pounds 20m a year to retain its franchise.

However, the underlying figures should show a recovery in profits from TV, and worries about HTV's solvency appear to be a thing of the past.