ITV warns of sharp fall in Q2 net ad revenue

LONDON Wed May 15, 2013 2:13am EDT

LONDON May 15 (Reuters) - ITV, Britain's biggest commercial free-to-air broadcaster, warned its net advertising revenue would fall sharply in the second quarter due to tough comparatives, after edging forecasts for the first three months of the year.

The home of soap opera "Coronation Street" and period drama "Downton Abbey" said on Wednesday its net advertising revenue was up 6 percent in the first quarter but is expected to be down 12 percent in April, down 7 percent in May and down between 12 and 15 percent in June.

Initial indications are that it will be positive in July.