After a second week of disastrous ratings, ITV bosses have decided to move new reality TV show, Tycoon to another time slot.

“Tycoon has been moved into a new slot,” confirmed a spokeswoman. “ITV1 has performed very strongly so far in 2007, with some of our best results for three years, and we have taken a commercial decision to protect that performance. Happily we have been able to return the series to a new slot.”

Tycoon replaces the reality-chat hybrid 24 Hours With…, which will now play out “in the future”, the spokeswoman added.

Tycoon will return on Monday 9th of July in a new 30 minute format.