The head of UK investment banking at Lehman Brothers said today that American buyers aren't likely to acquire ITV.

"I don't think there's any interest among the Americans to buy ITV," said Lehman's Anthony Fry, speaking at the MediaGuardian International TV Festival in Edinburgh. "If they're going to be investing in this market it would be in new media rather than spend the thick end of $12bn to buy ITV."

Earlier this year, it was reported that a consortium led by Time Warner was considering making a bid just shy of $12bn for ITV.