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Agencies feel alienated by the legalese in ITV's merger draft, Lexie Williamson says.
A law degree would have been a real asset in TV buying departments last week as agencies attempted to decipher a draft of the Office of Fair Trading/Carlton and Granada merger undertakings.
The document proposed a package developed by the OFT, the Competition Commission, Carlton and Granada to 'remedy the potentially anti-competitive effects' of the merger - largely the inflation of airtime prices, which buyers fear is inevitable when Carlton and Granada own 52 per cent of the market.
The undertakings centre on the Contract Rights Renewal remedy, which allows advertisers to roll over the terms of their existing contracts with ITV for the next three years. They therefore won't be forced to increase ITV's share of their spend and can also reduce the portion of their spend if ITV's audiences shrink.
An independent adjudicator will police changes to contracts, the creation of new contracts and any disputes, ideally returning a 'yes' or 'no' answer within 72 hours.
The OFT gave 'any interested parties' just a few days for responses.
These were to be delivered in writing by 3 November to be considered for the final version of the document by Friday 7 November.