ITV denied "losing millions" in sponsorship deals after Phillip Schofield's recent affair admission.
Car dealer Arnold Clark recently announced it wouldn't renew its existing deal with This Morning.
It comes as the show’s producers are said to be clinging on to their jobs, as the daytime entertainment programme’s reputation has been tarnished following the recent scandal involving Phillip Schofield.
Phillip, 61, had fronted the programme for 21 years before he started getting heavily scrutinised in recent months.
Following rumours of a fallout between him and Holly Willoughby, the presenter stepped down from his role.
Not long after, Phillip admitted to having an affair with a 'much younger' colleague at This Morning.
He admitted he had lied to his colleagues, his wife and management about the romance and apologised for his actions.
Following the admission of the affair, the programme's biggest sponsor Arnold Clark chose not to renew their contract.
In a statement, they said: "Our existing sponsorship of This Morning will end this Autumn as planned."
A source also told The Sun: “Brands do not feel ITV is a safe bet at the moment.”
However, an ITV spokesperson denied brands have pulled out of their deals.
"This is untrue. This Morning's current show sponsorship runs until the Autumn and no sponsors have pulled out of ITV," they said
Mirror have contacted ITV for comment.
It comes after the broadcaster confirmed they had previously received reports from several members of staff about a relationship between the presenter and a production assistant working on the show.
A source told The Mirror: “The next few weeks will be a desperate bid to save the show – and the jobs of the execs. Fingers are being pointed at the top brass, even though he admitted he lied to all of them.
“The show’s wholesome image is clearly tarnished, but bullish ITV execs are not going to just throw the baby out with the bath water.
“They are determined to prove that the brand is stronger than any single presenter and that they can give it a fresh start after Schofield.”
And an ITV source said: “ This Morning has won so many awards, the last thing ITV want is to lose it. They retain faith in editor Martin Frizell and want to move on and look to the future now.”
Alison Hammond and Dermot O’Leary have fronting the programme ever since Phillip stepped down from the role earlier this month.
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