DCD Media issues profits warning after ITV cancels third series of Celebrity Squares

Independent television producer DCD Media issued a profits warning after ITV said it would not recommission its 'Celebrity Squares' game show.

The game show, based on American format Hollywood Squares, was brought back by the independent broadcaster in September 2014, having been cancelled twice before in 1979 and 1997.

The revived show initially struggled to compete against BBC1 stalwart The Great British Bake-Off, losing 0.7m viewers in its first week alone.

DCD Media indicated the show’s axing will have a significant effect on the year ahead.

“While the show may be re-commissioned in the future, the loss of revenue will impact performance for the group in 2016,” the company said in a statement.

“The board stresses, however, that the group is encouraged by its strong pipeline of opportunities in the production division.”

As of 09:14, shares in DCD Media were down 28.28% to 102.5p.