ITV want superstars’ pay cut

The head of ITV, Michael Grade, is asking all of the top stars of the broadcaster to share the pain and take a pay cut in the process.

This comes as ITV continue to cut costs, which generally means cutting back on staffing levels.

The stars that are going to be targeted to take a cut in pay are the likes of Ant & Dec who earn around £15 million each and of course Simon Cowell, who is reputed to be paid £20 million.

Other stars that are about to feel the pinch are the cast of Coronation Street, many of which have had their contracts renegotiated.

Could this be a turning point in TV?

A couple of years ago the BBC and ITV were only too happy to offer huge sums of cash in order to secure the top stars, but now it seems to be all over for the stars who could play the broadcasters off against each other in order to get huge salaries.