ITV is exploring a deal to buy British independent TV production company All3Media from its joint owners Liberty Global and Warner Bros. Discovery, aiming to combine the business with its Studios unit, two sources familiar with the matter said, according to Reuters.
A possible deal could see Warner Bros. Discovery sell its stake in the company to ITV for cash to help trim its US$49 billion debt pile. Meanwhile, Liberty Global could retain a stake in the merged entity. Another option would see ITV buy out both parties entirely, one of the sources said.
“We are actively exploring the possible acquisition of All3Media, but there can be no certainty as to whether any transaction will take place, nor as to the terms of any such transaction,” commented an ITV source familiar with the matter, cited on the Financial Times.
All3Media has been under Discovery and Liberty Global’s control for nearly a decade after selling to the US media giants for £500 million in 2004. The company’s revenues rose 32% to a record £867 million in 2021, according to accounts filed at the UK’s Companies House. Its earnings before interest, taxes, and depreciation stood at £84 million.
Housing more than 50 producers in Britain and abroad, All3Media makes a wide range of award-winning shows including "The Traitors," "The Tourist" and "Call the Midwife." Britain is responsible for 35% of its revenue, with the remainder coming from North America, Germany, the Netherlands, New Zealand, and elsewhere.