U.K. TV giant ITV, led by CEO Carolyn McCall, said it would pull its dividend and make other cost savings, including in program spending,amid the new coronavirus, which it says has had an "increasing" impact on its advertising revenue.
It said the moves, along with the impact of forced programming changes, will help boost its cash reserves by more than 300 million pounds ($350 million), giving it more financial flexibility. "Management is very focused on cash and has implemented measures to reduce our costs and to tightly manage our cash flow," ITV said early Monday.