Back on 28 November 2006, when Michael Grade walked in to 200 Grays Inn Road to take the ITV helm the share price stood at 110.75p. Today it was just 89.1p. That’s a drop of just under 20 percent, or as we say in journalism – nearly a fifth.

Of course, share prices can go up as well as down, and ITV should be looked at as a long term investment. Besides, it will take at least another year for Grade’s reforms to take effect. By which time we’ll all probably be able to buy it.