You can gain a lot of information from the reaction of the City of London to an announcement, and a lot more from what pundits think that reaction will be.

British newspapers, including these days the tabloids, have always trumpeted their city coverage.  Deals are made or broken on the basis of a report at the back of the Times and the Telegraph.  The Sunday papers, with a week to research a business article, can have a depth and perception behind them that no self-respecting trader would dare disregard.

The contract changes announced in 1967 were difficult to predict.  Leaks had appeared, but an ITA policy of silence was maintained, so they were leaks without confirmation or denial.  Hill was known to be making major changes, and the fear of this had depressed the markets for months.  The contracts applied for by the companies were of public record - the loss of the weekend split everywhere except London, the new Yorkshire contract - but it was clear that companies would rise dramatically or fall disastrously in the wake of the announcement.

With the benefit of hindsight, we can look back at what the pundits thought would happen - who had lost a contract but would survive, who had gained a contract but would not - and gain an insight into the capitalist's view of television's travails.