ITV lost £9million by binning episodes of Spitting Image featuring the Queen following her death last year.
The broadcaster said the episodes could not be effectively edited and that it doubted they would ever be screened.
The figure was revealed as part of ITV plc’s cost breakdown and results for 2022.
Its report added: “Following the passing of Her Majesty Queen Elizabeth II in September 2022, the M&E [media and entertainment] business incurred significant additional costs related to news coverage.
“In total the business has incurred £16million of costs in relation to this, which is considered exceptional.”
It later added that even the total costs reported did not reflect the financial impact of the advertising “blackout” TV suffered during the period.
The satirical puppet show was first broadcast on ITV from 1984 to 1996, then was revived on ITV-owned streaming service BritBox in 2020.
It is known for poking fun at high-profile figures including former US President Donald Trump, ex-PM Boris Johnson and the Duke and Duchess of Sussex.
Harry and Meghan’s puppets made their stage debut last month in the theatrical production Idiots Assemble: Spitting Image Saves the World.
Also featured in the show are famous faces including Stormzy, Tom Cruise and the King.
ITV was contacted for comment regarding the episodes featuring the Queen.
