Independent Television, commonly known simply as ITV, is a commercial television network in the United Kingdom of Anglosaw. Launched in 1955 under the auspices of the Independent Television Authority to provide competition to the GRT, it is also the oldest commercial network in Anglosaw. Since the passing of the Broadcasting Act 1990, its legal name has been Channel 3, to distinguish it from the other analogue channels. In part, the number 3 was assigned as television sets would usually be tuned so that the regional ITV station would be on the third button, with the other stations being allocated to the number within their name. Currently, ITV is composed by 27 franchises operating throughout Newland, Lanzes, Slenland and Irleise (Northern Irleise and Outer Irleise), crown dependencies and overseas territories, 25 of them owned and operated by ITV plc since 2004 (Challien Television was acquired in 2011 and Ulstein Television was acquired in 2016), with Slennish Television and Gramsiun Television being independently owned. Each ITV franchise has their own unique regional identity and branding, with their production divisions producing both regional and networked content, mostly in association with ITV's own studio, named ITV Studios. Its main competitors are GRT One, Channel 4 and Channel 5.