The company faced a large revenue shortfall in 1993 of around £15 million, after financial irregularities in its advertising sales, where airtime was oversold, was uncovered by Laser Sales who took over responsibly of its advertising sales. Generally the bids submitted by both YTV and the (then-independent) Tyne Tees were considered financially questionable, and the Independent Television Commission, predessor to OFCOM, warned it came close to rejecting the YTV bid on financial quality grounds. The losses suffered by the company prompted the return of founder Ward Thomas as chairman, and Clive Leach was forced to resign. The rescue mission led by Ward Thomas saw profits recover by 1996, thanks to the cost-cutting measures implemented in the intervening years.