THE City was yesterday naming potential candidates to become chief executive at ITV, as speculation mounted that leading investors in the broadcaster want to see changes at the top.

While Charles Allen, the group’s chief executive, is not expected to leave immediately, he is understood to be considering whether he has a long-term future at the group. There is speculation that Sir Peter Burt, ITV’s chairman, also faces investor pressure.

ITV has refused to comment on the speculation.

Cantor Index, the spread betting firm, cited Greg Dyke, the former BBC Director-General, as favourite to become ITV chief executive. Stephen Carter, the outgoing Ofcom chief executive, was a close second.

Some industry sources were sceptical about Mr Dyke as a potential candidate after the recent failed approach for ITV led by him on behalf of a private equity consortium.

Also tipped is Andy Duncan, chief executive of Channel 4, who was a surprise choice when chosen for his current role but has become well regarded for his work there. Martin Stewart, chief financial officer of EMI and formerly at BSkyB, is another contender.

One leading headhunter contacted by The Times favoured Tony Ball, the former BSkyB chief executive, whose two-year non-compete clause ended recently, saying that he has experience of running a major television group and creative understanding.

A major ITV shareholder agreed that Mr Ball would be a strong candidate, as he had done “a great job at BSkyB”, but questioned whether he would want to take on such a role. Mr Ball is currently on the board of Kabel Deutschland and works with Permira, the private equity group, and the media investor Ingenious Media. Mr Ball, who yesterday was unavailable for comment, has odds of 8-1, as Cantor does not believe that he would be interested in the role.

ITV, along with other media groups, has experienced an extremely tough advertising market. Mr Allen had hoped that the World Cup would turn the tide, but the opposite happened. Advertising booked to cover the tournament showed only modest increases to offset the extra cost of broadcasting the matches.

Viewing figures have also been disappointing. The BBC still attracts the biggest audiences for events covered by both channels. ITV’s recent reality television investment, Love Island, is generating poor viewer numbers.

THE FAVOURITES

Greg Dyke 7-4
Stephen Carter 5-2
Andy Duncan 7-2
Martin Stewart 4-1
David Mansfield 5-1
Jane Lighting 6-1
John Smith 7-1
Tony Ball 8-1
Mark Byford 8-1
Michael Jackson 10-1
Sir Gerry Robinson 33-1
(Source: Cantor Index)

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