Going down: Carlton

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The Independent Online
SHARES of Carlton Communications, the TV company, were hit by news of the resignation of Stephen Grabiner, chief executive of Carlton's part-owned subsidiary ONdigital, the pay-TV service, after just over a year in the job. Mr Grabiner has been poached by Eventures, an internet investment venture formed by Japan's Softbank and Rupert Murdoch's News Corporation.

ONdigital said that Stuart Prebble, managing director of channels and interactive media at Granada Media Group, will replace Mr Grabiner immediately. Shares in Carlton fell more than 5 per cent as analysts speculated that differences between Mr Grabiner and Carlton's chief executive Michael Green had forced him out of the job.