Broadcasters Granada and Carlton call off merger talks

British broadcasters Granada Media PLC and Carlton Communications PLC said today they have called off merger talks.

"The two boards have decided not to pursue these discussions," the companies said in a statement.

The two companies produce programs for Britain's private Independent Television network, and are ITV's biggest shareholders.

In November, the government announced plans for changes in media ownership rules that would allow ITV to become a single company.

Shares in both companies fell Wednesday, with Carlton down 7 per cent to 212 pence and Granada 2 per cent lower to 111 pence.