ITV is facing the possibility of a takeover after reports emerged that a group of potential bidders have engaged in “early stage” discussions about a joint bid. According to Sky News, CVC Capital Partners and a prominent European broadcaster, believed to be France’s Groupe TF1, are among those considering a bid for the commercial broadcaster.
RedBird Capital-owned All3Media and Mediawan, backed by KKR, are also listed as potential suitors, primarily targeting the ITV Studios production arm. Groupe TF1’s TF1+ streaming service model, which closely resembles ITVX, adds further intrigue to their potential involvement.
None of the potential bidders are reportedly ready to make their intentions public. However, market chatter about the potential takeover boosted ITV’s share price from 65.5p to 71.1p on Monday morning.
ITV Studios has built a thriving business creating content for both itself and external clients, including the recent Disney success, Rivals. Sky News suggested a scenario where CVC acquires ITV Studios, while a European broadcaster takes over the broadcasting platform, including ITV X.
Earlier this month, ITV announced plans to achieve £20 million in savings in response to the impact of the US studio strikes.