PRESS: Suitors circling for all or parts of ITV - Sky News

24th November 2024 09:27

(Alliance News) - ITV PLC's boss has been mulling with advisers a possible separation of a unit, Sky News reported on Saturday, while possible bidders are in early talks about teaming for a tilt at buying all or parts of the FTSE 250 listing.

Sky, citing television industry sources, reported that CVC Capital Partners and a "major European broadcaster" are among those that are mulling over the merits of making a bid to acquire ITV. The European broadcaster is believed to be Television Francaise SA, which operates the TF1 TV channel in France. Bouygues SA owns roughly a 44% chunk of Paris-listed Television Francaise.

Sky News sources also stated that All3Media and Mediawan are possible suitors for the ITV Studios production arm. Mediawan is a production company but also distributes third-party and in-house content.

All3Media is in TV and film production, and it was sold by Liberty Global PLC and Warner Bros Discovery Inc in May to the RedBird IMI joint-venture for USD1.45 billion.

ITV had previously looked into acquiring All3Media, but in July last year announced it had opted against pursuing a deal.

Sky News, citing one source, said that work on bids are not yet advanced enough to require a disclosure under UK stock market rules.

Sky News also reported that ITV Chief Executive Officer Carolyn McCall has spoken to the company's financial advisers about a possible demerger or form of separation of its two main business units.

ITV shares rose 6.4% to 66.00 pence each in London on Friday.

By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

Get more news and expert articles direct to your inbox