LONDON, ENGLAND - BRITISH commercial broadcaster ITV said on Tuesday it will cut around 1,000 posts by March next year as it battles to reduce costs.

This includes around 430 jobs out of 1,075 at ITV News, where journalists and broadcast staff will be among those hit and unions have threatened strike action.

Some 425 jobs at ITV have already gone and 75 more are 'in the final stages of consultation', the firm said.

Last week, ITV got the green light from media regulator Ofcom to cut its regional news service in an effort to save 40 million pounds (S$103.3 million) a year.

'In total and including company disposals, ITV plc expects to reduce headcount by around 1,000 posts over 2008 and in the first two months of 2009,' the company said in a statement.

Ms Laura Davison, assistant broadcasting officer of the National Union of Journalists, said it was a 'really bad day' for ITV News staff, adding she could not rule out industrial action.

'We do not accept the level of cuts ITV News wants to make and it is difficult to see how we can avoid a fight over this,' she said.

But ITV said the cuts were necessary to keep costs down.

'We are committed to a self-help, self-funding solution to securing ITV's future,' chief operating officer John Cresswell said.

'In order to sustain our investment in UK content, we have to keep on top of our cost base.'

Last month, ITV announced a first-half net loss of more than 1.5 billion pounds after a fall in advertising revenues forced it to pay a special charge on recent acquisitions.

Adjusted pre-tax profits fell 28 per cent to 91 million pounds.

In May, ITV was fined a record 5.67 million pounds for misleading viewers over premium rate phone-ins to prime-time family television shows. The broadcaster apologised and offered to pay 7.8 million pounds in compensation. -- AFP