The Granada Group gives similar reasons for its 13% cut - a simplified group structure and a reduced number of acquisitions and disposals in the group.

After graduating from university, Bernard worked for the Granada Group, then moved on the Ford Motor Company.

In the late 1970s, Joseph sold Transatlantic Records to the Granada Group and left the music business.

In 1975, Joseph sold a 75% share of his company to Sidney Bernstein's Granada Group and the company became part of Granada.

Forte P.L.C., the British hotel company, began a further, aggressive effort today to thwart a hostile takeover bid by the Granada Group.

He was Chairman from 1974 to 1987, and Deputy Chairman of the Granada Group from 1984 to 1990.

The fourth bidder was New Century, a group including Sky Broadcasting and the Granada Group.

In 1973 the Rex was acquired by the Granada Group.

In 1977, the company purchased Transatlantic Records which was at that time owned 75% by the Granada Group and 25% by its founder/chairman Nathan Joseph.

He was a director of the company, managing director of Granada Television in the 1970s, and Chairman of Granada Group 1979-96.