Fox has told the HMV board he will stay to see through its three-year restructuring plan, which is due to be completed next year.
Other names associated with the job include Pascal Cagni, head of Apple EMEA, John Cresswell, ITV’s current chief operating officer and Tony Ball, former chief executive of BSkyB.
The appointment is expected to be made by the end of the year and perhaps even as early as September in order to give the troubled broadcaster time to prepare for the crucial autumn and pre-Christmas period.
Grade will step down as executive chairman when the new appointee joins. He is expected to take the role of non-executive chairman though some shareholders may pressure ITV not to give him such a role.
Fox was tipped for the post last week when analysts BGC Partners put him at 4/7 favourite, with Cagni at 5/2.
The attraction he held for ITV is understood to have been his record in turning around HMV and getting to grips with online opportunities.
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