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Search resuls for: "Amy-Jo Crowley Paul Sandle"


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LONDON, June 16 (Reuters) - Britain's ITV (ITV.L) is "actively exploring the possible acquisition" of production company All3Media, it said on Friday after Reuters reported the broadcaster's interest. One of Britain's leading independent production companies, All3Media is owned by Warner Bros Discovery (WBD.O) and Liberty Global (LBTYA.O). Sources told Reuters in a story released on Thursday that Warner Brothers could sell its All3Media holding while Liberty Global could retain a stake in a merged entity, which would comprise ITV Studios and All3Media. Speaking generally about its finances, ITV in March said that it had accessible funds of more than 1 billion pounds, comprising cash and undrawn debt facilities. In a potential deal, ITV would combine All3Media with the Studios business it has built to offset more volatile revenue from its advertising-dependent TV channels and new ITVX streaming service.
Persons: Kate Holton, William James, David Goodman Organizations: ITV, Reuters, Warner Bros Discovery, Liberty Global, Warner Brothers, ITV Studios, Thomson
Liberty Global could retain a stake in the merged entity, which would comprise ITV Studios and All3Media, the person said. Spokespeople for ITV, All3Media, Warner Bros. and Liberty Global declined to comment. Discovery and Liberty Global bought All3Media in 2014 for an enterprise value of about 550 million pounds. In a potential deal, ITV would combine All3Media with the Studios business it has built to offset more volatile revenue from its advertising-dependent TV channels and new ITVX streaming service. ITV Studios, which makes reality show "Love Island", grew revenue by 19% to 2.1 billion pounds and adjusted earnings by 22% to 259 million pounds in 2022.
Persons: Spokespeople, Amy, Jo Crowley, Paul Sandle, Elisa Martinuzzi, Hugh Lawson Organizations: ITV, Warner Bros Discovery Inc, Liberty Global, Warner Brothers, . Liberty Global, ITV Studios, All3Media, Reuters, Liberty, Warner Bros, JPMorgan, Discovery, Thomson
The business has been valued at as much as 3 billion pounds ($3.7 billion), according to analysts. "But we do see a pathway whereby, via consolidation, ITV may be able to simultaneously both demonstrate and create value from ITV Studios," they said. ITV built up its Studios production business in the last decade to reduce its reliance on the British advertising market and tap into rising global demand for content. Revenue in the nine months to end-September rose 16% to 1.39 billion pounds ($1.71 billion). That would imply a valuation of about 3 billion pounds, in line with analysts' calculations and nearly as much as ITV's total market value of 3.27 billion pounds.
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