ITV looking at acquisition of Liberty Global and WBD-backed All3Media

All3Media’s Fleabag

ITV has confirmed it is “actively exploring” an acquisition of All3Media, in a deal that could be valued in excess of £1bn ($1.3bn).

The UK broadcaster had been among firms rumoured to be in the market for the Gogglebox, Traitors and Fleabag firm, following news earlier this month that All3 owners Liberty Global and Warner Bros. Discovery were looking to sell the producer-distributor.

ITV told its shareholder this morning that it is looking into an acquisition following a Reuters report last night, but added that there could be “no certainty” of a deal.

Fremantle, Banijay and a handful of private equity firms were believed to be among other interested parties looking at All3, but DTVE sister title TBI understands the ITV talks are now at an advanced stage.

A deal would make sense: John Malone’s Liberty already owns a 10% stake in ITV and also owns a stake, and sits on the board, at WBD.

It would also bolster the UK broadcaster, which has increasingly leaned on revenues from production arm ITV Studios to help buffer itself against the declining ad market.

Combining ITVS and All3 would create a production group giant. All3 owns more than 50 production labels around the world – ranging from Studio Lambert and Betty, to Neal Street Productions, Two Brothers Pictures and Objective Media – and hit record revenues of £866m in 2021.

The company, which also operates distribution arm All3Media International, was acquired by Liberty and Discovery in 2014 for around £550m.