Just assume for a moment that somebody sensible gets the top job and does some pretty sensible things. Follow the flow of the argument and also assume that the ownership question is resolved, quite soon, one way or another. We could stretch credulity yet further by making a final assumption - that ITV gets a board not composed solely of retired bankers but also those who know something about entertainment and communications.
What then for ITV - what is it for and what will its future be in a YouTube world?
A few simple points, some so obvious that they could be overlooked in an era where a new technological threat appears to pop up on an almost daily basis.
First, there is no other developed country in the world where the leading commercial TV company has about three times the audience of its nearest rival and wipes the floor with the combined total opposition. This is a valuable commodity. Second, TV advertising is still the best and most immediate way of creating and sustaining brands.
Of course ITV has to produce better shows and a broader slate that appeals to the entire audience. In recent years ITV1 has virtually been encouraging big segments of its audience - particularly upmarket cohorts - to go away. But now there are signs of greater ambition. Its deal with production company Kudos is symbolic; ITV rejected all its past offerings, including Spooks and Life on Mars, though not all were in their final form at the time.
Now ITV has commissioned Echo Beach, a soap set in Cornwall, and Moving Wallpaper, a behind-the-scenes comedy based on the soap, to be shown on the same night. It may be a flop, but at least ITV drama controller Laura Mackie is having a go.
However, creativity is one thing, money quite another. It is now time to address the dreaded CRR system. Steve Morrison, former chief executive of Granada Group and now head of All3Media, the UK's biggest independent producer, has put it rather well: everybody has had their bit of fun, scores have been settled, but now it's time to realise that ITV is in danger of being damaged as a prime vehicle for advertisers. He says the remedy designed to enable the Granada-Carlton merger to go through now needs to be remedied itself.
The problem is that the damage caused by CRR is being felt across the commercial TV industry. There is more than a suspicion that the depressed ITV rate is dragging down other channels. After all, advertising is recovering in virtually every developed TV market except the UK.
Morrison also argues that once the dust has settled at ITV, a three-year plan should be created. The CRR could be abolished or reformed. In return, ITV would commit to reinvigorated investment in an ambitious schedule and the marketing community; or at least its major players will make commitments.
It could be a win-win situation for all. The alternative doesn't bear thinking about: cuts in programme budgets, declining ratings, a damaged independent sector and greater headaches for marketers.
An outbreak of co-operation makes sense, and the end of CRR could lead to a peace between those people with interests in common.
30 SECONDS ON ... KUDOS
- British TV and film production company Kudos launched in 1992 and is jointly managed by Stephen Garrett and Jane Featherstone.
- It is best known for its hit spy series Spooks (known as MI5 in the US), time-travel comedy-drama Life on Mars and Hustle, which follows the antics of a group of con artists.
- Recent projects include The Amazing Mrs Pritchard, starring Jane Horrocks, Wide Sargasso Sea, an adaptation of Jean Rhys' prequel to Jane Eyre, and the children's spy series, MI High.
- In 2002, Spooks won Best Television Series at the BAFTAs.
- The company recently launched Kudos Pictures, a stand-alone production company. Set up with former FilmFour head Paul Webster, it is currently in pre-production on a David Cronenberg film starring Viggo Mortensen.