Corrie 'may be sold off by ITV'

Coronation Street may be sold off to an independent production company due to severe cutbacks at ITV, it was claimed today.

The Sunday Express reports that the long-running soap may no longer be produced by Granada Television because ITV is struggling to cope with the impact of the recession.

It has also been alleged that, as an "interim measure", Emmerdale may start to be made in Manchester rather than by Yorkshire Television in Leeds in the near future.

An insider told the newspaper: "It's fairly certain that Leeds will be closed and Emmerdale will be run from Manchester, which is effectively the end of Yorkshire TV."

Last week, ITV's executive chairman Michael Grade admitted that the financial state of commercial television had been "severely challenged" by the economic downturn.

"I have seen the cycle come and go over the years," he explained. "I have never seen anything quite as dramatic or quite as profound as this in terms of the effect on advertising revenues."

An ITV spokesman confirmed that the broadcaster is currently holding talks over its future, but dismissed claims that its production wing would be closed altogether.

He said: "As you know, operational reviews are taking place to ensure that ITV is in the best shape to meet the unprecedented challenges facing the economy, but there are no plans to drastically scale back, or shut, ITV Studios."