ITV's market value plunged by £200m after Piers Morgan announced his departure from Good Morning Britain.
The TV host's shock resignation followed his row over Meghan Markle's mental health.
🔵 Follow our Piers Morgan live blog for the latest on his GMB exit…
Meghan raised concerns with ITV's CEO after Piers said he didn't believe she had suffered suicidal thoughts.
She made the comments during her two-hour interview with Oprah Winfrey on Sunday, when she said she "didn't want to be alive anymore".
The Duchess of Sussex is said to have been worried Piers' words might affect others struggling with similar issues.
Seniors execs wanted the 55-year-old presenter to say sorry on air but he refused and stepped down from GMB last night.
And today, the day after the news broke of Piers' exit, ITV's share price slumped by 3.8 per cent.
It follows a £200million loss in profits for the network during the pandemic in the last year.
Neil Wilson, chief markets analyst at markets.com, told The Guardian: "Investors may be a little worried about the loss of ratings for GMB – it wasn’t exactly doing that well before he joined and its primetime slot will have repercussions for ads.
"Love or loathe, Morgan boosted ratings. It could also be that investors are worried about an investigation over comments made by Morgan on air.
"You cannot be owning ITV and worry about one host, can you?"
After claiming he "didn't believe a word" of what Meghan had revealed, Piers rowed with Alex Beresford then stormed off set.
His outburst saw Ofcom receive 41,000 complaints – the most in a decade – sparking an investigation.
It comes as…
- Meghan Markle made a complaint about Piers Morgan to ITV
- Piers branded Meghan as 'contemptible' as he doubled down on his comments
- The GMB host hinted at quitting hours before he stormed off the show by tweeting he was 'dying of boredom'
- Piers said he 'work is done' after GMB beat BBC Breakfast's rating for the first time in history
- Susanna Reid paid tribute to her co-host
Despite the backlash, Morgan was today offered a job live on air by Andrew Neil chairman of the incoming television news channel GB News.
He said he would be "delighted" to have a conversation with the firebrand host after his his six-year stint on the morning show.
Mr Neil told the BBC it was a loss for ITV – saying many viewers had tuned in for the controversial host.
He said: "Well, Piers would be a huge asset to GB news and we'll definitely look at that.
"We haven't started any negotiations yet. We would certainly be delighted to talk to him if he's up for it."
Mr Neil said he would not want to have Piers' GMB role transferred onto GB News but added: "Could we find a role for Piers Morgan?
"Of course we could – any network worth it's salt could find a role for a broadcaster of his calibre."
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