Originally Posted by Citadel:
“If anyone is to blame it's Ofcom, really, for giving ITV Breakfast the right to buy Sunrise Television and take over the breakfast franchise. Alas, everything seemed to work better at ITV when it was privatised. The strict ITC is also sorely missed; OFCOM is to commercial television what the UN is to peacekeeping - toothless.”
The broadcasting ownership rules are nothing to do with Ofcom, they are laid down in statutory legislation. It was the last Government that relaxed the ownership rules for ITV, as part of the Communications Act 2003. Ofcom's role is to ensure that the legislation is complied with and the owners are "fit and proper".
This legislation allows a US company such as Liberty Global or NBC Comcast to purchase the whole of ITV, and that will probably happen before too long. As I understand it Liberty Global have six months to launch a full takeover bid following their recent purchase of Sky's shareholding.