History
The company was created in June 1992 from the merger of the Independent Television broadcasters Yorkshire Television and Tyne Tees Television which broadcast to Yorkshire, Lincolnshire and the North East of England, United Kingdom. YTT was effected by the overbidding for its franchises in 1992. The company lost £7.9m in 1993, compared with a pretax profit of £16.7m in 1992. In 1994, the company managed profits of £10.5m for a 15-month period, reflecting the changed year-end. Bruce Gyngell, the former chairman of breakfast station TV-am, became YTTV's managing director on 15 May 1995.
The company was purchased by Granada Media Group in 1997, GMG having been formed by a merger between Granada Television and London Weekend Television. Granada plc ultimately went on to merge with Carlton Communications, forming ITV plc. The takeover of Yorkshire-Tyne Tees Television was thought to be worth about £800m.
Yorkshire-Tyne Tees Television, along with Welsh francisee HTV later challenged a government plan for all ITV companies to be required to use a single supplier of television news. Yorkshire-Tyne Tees Television also asked for a vote among ITV companies over whether News at Ten should be moved to another time.
Read more about this topic: Yorkshire-Tyne Tees Television
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