The number of media companies present in the FTSE 100 will be at its lowest level for more than 10 years, according to research from A review of all the companies identified that once ITV is relegated this week, only five per cent of the FTSE 100 will be media companies. This is a significant fall from the highs of 10 per cent in the early part of the decade. Other recent leavers include Yell and the Daily Mail Group.

Andy Viner, Head of Media at BDO Stoy Hayward says: "Media companies are really struggling in this difficult trading environment, particularly as spend on classified advertising is falling dramatically. Those who are best surviving the credit crunch seem to be subscription based companies such as BSkyB, where for example a large number of consumers are reluctant to give up watching football ¬ particularly as we're at the start of a new season."

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