Tony Ball, the former Sky chief offered the job of chief executive of ITV almost a month ago, has pulled out of the process. ITV said in a statement that its executive chairman Michael Grade, who was to become non-executive, will leave the company once a new non-executive chairman has been appointed, a process it added was well advanced.

Ball had been locked in talks over the terms of his appointment, but according to reports, talks with the board had broken down not over his pay package (he was demanding up to £30m (E33m)), but over the composition of ITV's governance once he took the job.

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