Lord Grade has alleged that broadcasters are threatening politicians "in an illegal fashion" over the TV debates.
The former BBC and ITV chairman told ITV News that he had become "appalled" by the wrangling over the debates.
Asked if he stood by comments he made in January that no leader should have the right to prevent the debates, the Tory peer told Chris Ship: "No I don't, I think that was wrong - if there is no consensus there shouldn't be any debates."
David Cameron has damaged his reputation by trying to avoid TV debates with other leaders, according to a new ComRes poll for ITV News.
Ed Miliband say a Labour government would take legal steps to make sure leaders' debates a permanent feature in general election campaigns
Former Conservative Party chairman suggests a Tory-Labour grand coalition to stop the SNP holding the balance of power at Westminster.