Britain’s ITV is ‘actively exploring the possible acquisition’ of production company All3Media, it said on Friday after Reuters reported the broadcaster’s interest.
All3Media could be valued at more than £1 billion ($1.3 billion), sources said in May when Reuters reported that the company’s owners were exploring options.
One of Britain’s independent production companies, All3Media is owned by Warner Bros Discovery and Liberty Global.
According to sources, 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. Another option is that ITV buys out both parties entirely, one source added.
“ITV Plc notes the recent media speculation and confirms that it is actively exploring the possible acquisition of All3Media. There can be no certainty as to whether any transaction will take place, nor as to the terms of any such transaction,” the broadcaster said in a statement to the stock exchange.
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 ITVX streaming service.