Glossary
| Term | US equivalent or brief description |
|---|---|
| 3G | Third generation mobile phone network capable of transmitting high data levels including video |
| Analogue television | UK terrestrial television broadcasting format supporting five channels (BBC1, BBC2, ITV1, C4 and Five) |
| Average net debt | Average net debt is calculated as the average daily net bank borrowings of the Group, derived from the Group's automated banking system. Net debt at a period end is calculated as the sum of the net bank borrowings of the Group, derived from the cash ledgers and accounts in the balance sheet |
| BARB | Broadcasters’ Audience Research Board – owned by broadcasters and advertisers and providing data on viewing statistics in UK households |
| Cable | Cable television – often also providing telephony and broadband internet services |
| Called-up share capital | Ordinary shares, issued and fully paid |
| Cash at bank and in hand | Cash |
| Catch-up channel | A channel transmitted usually with a one hour delay, and showing identical programmes to, a main channel eg ITV2+1 |
| Channel 3 (licences) | The 15 regional licences and one national licence awarded to transmit Channel 3 across the UK. Eleven of the regional licences are held by the ITV Group. ITV also owns 75% of the national licence GMTV |
| Combined Code | The 'Principles of Good Governance' and the provisions of the 'Code of Best Practice' issued by the Hampel Committee on Corporate Governance and the London Stock Exchange |
| Commitment | Proportion of people who said that any of the ITV channels were either their favourite channel or one of their favourite channels |
| Communications Act 2003 | The Act of Parliament under which the majority of UK television broadcasting is governed |
| Contract Rights Renewal (CRR) | The remedy agreed by Carlton, Granada and ITV in 2003 as a precondition of the merger of Carlton and Granada and which governs the way in which ITV1 airtime is sold by ITV to its advertising customers |
| Corporate Responsibility (CR) | Term used to cover all areas of responsible behaviour by companies including ethical behaviour, corporate governance and environmental impact |
| Cross Promotion | Information given about programming on a channel by other channels in the same family either by on air announcement or specific programme trailers |
| Creditors | Accounts payable |
| Creditors: amounts falling due after more than one year | Long-term debt |
| Creditors: amounts falling due within one year | Current liabilities |
| Debtors | Accounts receivable |
| DAB | Digital audio broadcasting |
| DMB | Digital multimedia broadcast |
| DVB-H | Digital video broadcasting for handheld |
| Defined benefit pension scheme | A pension scheme for employees under which the ultimate pension benefit is usually related to salary, either at date of retirement/leaving or at date of accrual |
| Defined contribution pension scheme | A pension scheme for employees under which the ultimate pension is usually related to the contributions paid into the scheme by employee and employer and to the investment returns earned on such contributions up to retirement |
| Dow Jones Sustainability Index | A pension scheme for employees under which the ultimate pension is usually related to the contributions paid into the scheme by employee and employer and to the investment returns earned on such contributions up to retirement |
| Digital Switch Over (DSO) | The point at which the UK terrestrial analogue transmissions will cease and DTT will take over – planned to be a rolling programme by region across the UK starting in 2008 and finishing in 2012 |
| Digital Terrestrial Television (DTT) | The digital transmission system (currently comprising six multiplexes each capable of transmitting between six and ten television channels) that is often referred to as Freeview and will fully replace analogue transmissions at DSO |
| ESOP | Employee share ownership plan |
| Estimated net new billings | Net new billings represent the estimated annualised impact on billings (turnover) of new business gained from both existing and new clients, net of existing client business lost. The estimated impact is based upon initial assessments of the clients' media budget, which may not necessarily result in actual billings of the same amount |
| Freeview | The name by which UK digital terrestrial television is often known |
| IFRS | Financial reporting standard in the UK |
| Interest receivable | Interest income |
| Hampel Committee | UK committee on corporate governance established in November 1995 to review the implementation of the findings of the Cadbury and Greenbury Committees |
| Headline earnings | UK committee on corporate governance established in November 1995 to review the implementation of the findings of the Cadbury and Greenbury Committees |
| Headline operating profit | Operating profit before goodwill amortisation and impairment |
| Headline PBIT | Profit on ordinary activities before interest, taxation, goodwill amortization and impairment, fixed asset gains and write-downs |
| Headline PBT | Profit on ordinary activities before taxation, goodwill amortisation and impairment, fixed asset gains and write-downs, and net interest charges on defined benefit pension schemes |
| Higgs Report | Report in the UK by Derek Higgs on the role and effectiveness of non-executive directors |
| IAS/IFRS | International Accounting Standard/International Financial Reporting Standard |
| Impact or commercial impact | One advertising impact is one viewer watching one 30 second commercial (usually referred to as rate card weighted and relating to a specific demographic group) |
| Net Advertising Revenue (NAR) | The amount of money received by the broadcaster as payment for spot advertising net of any commission |
| Ofcom | The regulator established to govern UK broadcasting as well as other areas of the media and telephony industry |
| OFT | The Office of Fair Trading is the UK’s principal competition regulator |
| Peak-time | The evening period of heaviest television viewing activity normally between 7.00pm and 10.30pm |
| PVRs | Personal video recorders are machines able to record broadcast television programmes to a storage medium (usually a hard disk) from which it can be played back to a television and rewound/fast forwarded or paused and then continued |
| Product Placement | Product placement is the inclusion of, or reference to, a product or service within a programme in return for payment or other valuable consideration to the programme maker or broadcaster |
| Profit attributable to ordinary share owners | Net income |
| Profit | Income |
| Profit and loss account reserve (under 'capital and reserves') | Retained earnings |
| Profit and loss account (statement) | Income statement |
| Pro forma ('like-for-like') | Pro forma comparisons are calculated as follows: current year actual results (which include acquisitions from the relevant date of completion) are compared with prior year actual results, adjusted to include the results of acquisitions for the commensurate period in the prior year. The Group uses 'pro forma' and 'like-for-like' interchangeably |
| Proposed dividend | Dividend declared by directors but not yet approved by share owners |
| PRTS | Premium rate telephony service – a telephone number charging a higher rate than normal local calls and often used by television channels for participation TV and quizzes |
| Public Service Broadcasting (PSB) | The considerable requirements placed on certain broadcasters including obligations to transmit particular material which may not be wholly commercial (eg religion and current affairs) within their schedules |
| Provision against deferred tax assets | Valuation allowance |
| Public Service Broadcasting (PSB) | The considerable requirements placed on certain broadcasters including obligations to transmit particular material which may not be wholly commercial (eg religion and current affairs) within their schedules |
| Rate-card | In relation to ITV1, the comparative pricing for advertisements of different time duration (where the comparative price may not be directly proportionate to duration) |
| Sarbanes-Oxley Act | An Act passed in the US to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws, and for other purposes |
| Share capital | Ordinary shares, capital stock or common stock issued and fully paid |
| Share premium account | Additional paid-in capital or paid-in surplus (not distributable) |
| Shares in issue | Shares outstanding |
| Share of Broadcast (SOB) | the term used to define the share of total UK television advertising revenue which is taken by one channel or group of channels |
| Share of commercial impacts (SOCI) | the term used to define the share of total UK television commercial impacts which is delivered by one channel or group of channels |
| Short leasehold | A short lease is where the portion of the term remaining unexpired at the end of the financial year is less than 50 years |
| Smith Report | Report in the UK by Sir Robert Smith on the role of audit committees |
| Spontaneous Consideration | proportion of people who said that ITV1 was a channel they would consider watching when they sat down to watch TV |
| Stocks | Inventories |
| Tangible fixed assets | Property and equipment |
| Turnbull Report | Guidance issued by the Institute of Chartered Accountants in England & Wales on the implementation of the internal control requirements of the Combined Code on Corporate Governance at the request of the London Stock Exchange |
|
Weighted Impacts/Messages |
Impacts can be weighted to take account of differing commercial durations. Weighted impacts are usually reported as “30 second equivalents”, where each commercial length is given a weighting value relative to a 30 second commercial |
| Wifi | Describes the technology of wireless local area networks developed for mobile computing devices such as laptops and increasingly for more services including Internet and phone access, gaming connectivity of televisions, DVD players, digital cameras |