ITV?s board was on Thursday night considering a new offer from the private equity consortium trying to take control of the commercial broadcaster. The latest proposal includes a cash alternative of 40p a share on top of the 86p in cash it originally offered.

ITV rejected the initial proposal presented by Apax Partners, Blackstone and Goldman Sachs Capital Partners and fronted by Greg Dyke, former director-general of the BBC, which would have left share-holders with 52 per cent of the company.