▁the ▁Independent ▁Broadcast ing ▁Author ity , ▁after ▁the ▁Sound ▁Broadcast ing ▁Act ▁ 1 9 7 2 , ▁and ▁currently ▁Of com ), ▁to ▁provide ▁competition ▁to ▁BBC ▁Television ▁which ▁had ▁been ▁established ▁in ▁ 1 9 3 2 . ▁I TV ▁is ▁the ▁oldest ▁commercial ▁network ▁in ▁the ▁UK . ▁Since ▁the ▁passing ▁of ▁the ▁Broadcast ing ▁Act ▁ 1 9 9 0 , ▁its ▁legal ▁name ▁has ▁been ▁Channel ▁ 3 , ▁to ▁distinguish ▁it ▁from ▁the ▁other ▁analog ue ▁channels ▁at ▁the ▁time , ▁namely ▁BBC ▁ 1 , ▁BBC ▁ 2 ▁and ▁Channel ▁ 4 . ▁In ▁part , ▁the ▁number ▁ 3 ▁was ▁assigned ▁because ▁television ▁sets ▁would ▁usually ▁be ▁tun ed ▁so ▁that ▁the ▁regional ▁I TV ▁station ▁would ▁be ▁on ▁the ▁third ▁button , ▁with ▁the ▁other ▁stations ▁being ▁allocated ▁to ▁the ▁number ▁within ▁their ▁name . ▁ ▁I TV ▁is ▁a ▁network ▁of ▁television ▁companies ▁that ▁operate ▁regional ▁television ▁services ▁and ▁also ▁share ▁program mes ▁between ▁each ▁other ▁to ▁be ▁shown ▁on ▁the ▁entire ▁network . ▁In ▁recent ▁years , ▁several ▁of ▁these ▁companies ▁have ▁merged , ▁so ▁currently ▁the ▁fifteen ▁regional ▁franch ises ▁are ▁in ▁the ▁hands ▁of ▁two ▁companies . ▁ ▁The ▁I TV ▁network ▁is ▁to ▁be ▁distinguished ▁from ▁I TV ▁pl c , ▁the ▁company ▁that ▁resulted ▁from ▁the ▁mer ger ▁of ▁Gran ada ▁pl c ▁and ▁Carl ton ▁Communic ations ▁in ▁ 2 0 0 4 ▁and ▁which ▁holds ▁the ▁Channel ▁ 3 ▁broadcast ing ▁lic ences ▁in ▁England