- FaustinoStu
- Mobile:979-968-3500
- Address:663 Swick Hill Street
- Location: 78945
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- Does XANAX Bars Buy Assist With Chronic Pain? - By Amy-Jo Crowley and Paul Sandle LONDON, June 16 (Reuters) - 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 pounds ($1.3 billion), sources said in May when Reuters reported that the company's owners were exploring options for the maker of popular shows "Fleabag", "Midsomer Murders" and "The Traitors". Shares in ITV lost 0.3% in morning trade while the broader FTSE 100 index was up 0.2%.
ITV shares have risen by about 7% over the past year. One of Britain's leading independent production companies, All3Media is owned by Warner Bros Discovery and Liberty Global. ITV is Britain's biggest free-to-air commercial broadcaster. 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. 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," the broadcaster said in a statement to the stock exchange. "There can be no certainty as to whether any transaction will take place, nor as to the terms of any such transaction." Citi analysts said that a tie-up with All3Media would make ITV´s production business responsible for more than 50% of group revenue, compared with about 43% today, while reducing exposure to the more volatile broadcast revenue. "Content production revenue streams are seen as more secure than traditional linear and non-linear advertising-funded broadcast (revenue)," it said. "Financially, a deal should be doable given liquidity on hand. However, it would leave the group fairly highly leveraged if done purely in cash." 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. (Writing by Kate Holton Editing by William James and David Goodman)
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