The most significant introduction of competition in TV. The terms of the act meant:
- every terrestrial channel had to commision 25% of programmes from independent production companies.
- launch of 5th terrestrial channel (1997)
- growth of satellite TV
- replacement of Cable Autority and IBA with Independent Television Commission (ITC), a 'light touch' regulator. ITC and other regulators replaced with Office for Communications (Ofcom) in 2003.
- companies had to bid for the 15 regional ITV broadcast contracts. The sums of money varied from region to region. The successful companies were awarded contracts that lasted for 10 years.
- acquisitions and mergers allowed between ITV franchises; the rules concering other media companies relaxed in 1990s and 2000s. This has led to some significant cross-media ownership.
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