Last month, the OFT formally advised the Competition Commission that CRR should be changed. However, it disappointed those in the industry looking for a swift overhaul of CRR by declining to outline exactly how it should be changed, and by when.
ITV will be hoping that a revised CRR mechanism will be in place in time for the 2009/2010 TV ad trading season. However, many in the industry doubt whether this will happen.
Today, the Competition Commission said interested parties wishing to comment on the OFT's advice to the commission should do so by 26 June.
The Competition Commission has appointed Diana Guy, its deputy chairman, to chair its review of CRR.
An administrative timetable of the CRR review will be published this month, setting out the stages of the CC's process and indicative dates for the initial stages. The Competition Commission will indicate its target completion date once initial assessments have been completed.
In January, the OFT, in its preliminary report into CRR, called for a relaxation of contract rights renewal.
The OFT said it found that while ITV1's market position "has declined, it remains almost the only provider of very large commercial audiences, which are of particular value to some advertisers.
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