Bishop new favourite for ITV chairman role

Michael Bishop is the new favourite to become ITV chairman after Crispin Davis announced he was longer interested in the position.

Davis, the former CEO of publishing group Reed Elsevier, is believed to have dropped out of the race as he believed the position was too high profile. Bishop, former chairman of Channel 4 and airline BMI, is now the frontrunner to replace Michael Grade. Davies is believed to have held preliminary talks with the commercial broadcaster.

ITV is keen to recruit a chairman as soon as possible so it can continue its search for a new chief executive following the recent breakdown in talks with former BSkyB CEO Tony Ball.