London – ITV Global Entertainment president and MD Peter Iacono is believed to have left the company following last week’s announcement of 600 layoffs. Unable to comment on events in the UK, James Ross, regional director, ITV Global Entertainment (who reports to Iacano) says Asia remains unaffected. Former president international features at Sony Pictures, Iacono was one of several high-profile hires made just over a year ago under ITV’s director global content Dawn Airey. Airey had set lofty targets of raising content revenues from a reported 123 million pounds (US$174 million) in 2006 to 1.2 billion pounds (US$1.7 billion) by 2012. May 2008 saw Airey quit ITV, after just eight months in the global content role, to become CEO of Five. 4 March 2009 saw ITV report operating profits down 100 million pounds (US$141 million) to 211 million pounds (US$298 million), with a drop in net advertising revenue of 17 percent in Q1 2009 and 20 percent drop expected in Q2. 600 layoffs were announced, with investment to be focused on primetime ITV1 ‘where it matters most to viewers and advertisers’. ITV Studios will concentrate on the development of Factual Entertainment shows ‘which can produce substantial secondary revenue streams’. Investment in network and regional programmes will reduce by 100 million pounds (US$141 million) and one of the company’s buildings in Leeds (UK) will be closed.