Although some might disagree with this sentiment, it's arguable that Michael Grade somehow just wasn't quite right for the BBC, and the corporation seems to be having major problems relating to its licence fee settlement (any problems are obviously being kept low key at present since there may be still room for negogiation).
Put simply, two supposedly good reasons were originally put forward to try to help secure a favourable licence fee settlement; the first being the money required for the digital switchover (supported by the Government) and the second being the proposed move to Salford for key BBC departments (most notably children's TV) which looked good on paper.
It's strongly arguable that this "two-pronged attack" was badly misjudged. Government ministers are currently far more interested in keeping the licence fee low first and foremost - it's one policy that Tony Blair and Gordon Brown are both in agreement on - and they also want the BBC to produce distinct and high quality output.
Spending lots of money on two major projects at the same time was presumably viewed by expense-hostile ministers as a sign of supreme arrogance on the BBC's part in terms of arm-twisting, and were also seen as being potentially detrimental to its 'high quality output' as a result of the potential expense of it all, hence a belated switch in emphasis to programming.
Grade saw these danger signs rapidly approaching and naturally knew of the ITV vacancy, therefore to him it seemed an ideal opportunity for one last great short term challenge before his final retirement as well as a convenient exit from the BBC (perhaps) before chaos breaks out. And if ITV were to still fail he could always blame market forces for its demise.
Therefore Michael Grade's exit will indirectly be interpreted as a sign that something is badly wrong with the BBC's licence fee settlement negogiations, so if it does all go wrong (as seems to be strongly hinted) then a huge amount of pressure will rightly or wrongly be placed on Mark Thompson, who will now be even more likely to be forced out of the BBC as a result.
Michael Grade is a good choice for ITV plc that will probably help to stabilise ITV in the short term, but unless ITV's underlying problems are rapidly addressed (such as contract rights renewal together with communicating objectives clearly to both advertisers and shareholders), then any form of stability will be a short-term illusion and takeover talk will resume.
Good luck.
