Banijay and North Road Entertainment are looking forward to it island of love Producer ITV Studios, according to Reuters.
The report suggests that private equity-backed studio firms have also been eyeing ITV’s production and distribution arm, which could bring in as much as £3 billion ($3.7 billion).
Reuters cites sources as saying British network ITV is ready to sell part of ITV Studios but is keen to retain control of the company, which has production facilities in the UK, Europe, US and Australasia, such as island of love, I’m a celebrity… Get me out of here! And life of duty.
Rumors that ITV was open to some kind of sale first surfaced in the FT in October last year, although sources within ITV have consistently played down the idea and it has sometimes disappeared from the market.
The news comes just a day after The North Road Company, which former Fox CEO Peter Chernin founded last year, raised $150 million from the Qatar Investment Authority “to support continued expansion. The company previously had up to $500 million in financing from companies such as Providence and $300 million in debt financing from Apollo, and acquired the US production arm of Seven.One Studios (formerly Red Arrow Studio International).
The company has a London-based branch focused on global acquisitions and co-productions, geographically close to ITV’s base in the UK capital.
Banijay acquired Endemol Shine Group in 2021 for $2.2 billion, creating the largest independent producer in the world. It has since added several indies and just closed a $30m deal for Beyond International in Australia.
Last year, Banijay went public through new parent company FL Entertainment in a deal backed by investors including Bernard Arnault, whose fortune is believed to be Elon Musk’s, and media and telecoms tycoon Vincent Bolloré.
Banijay and Fremantle were linked with a deal when news of ITV Studios was revealed at last year’s Mipcom.
Banijay and ITV declined to comment today, while North Road did not respond to requests for comment.
Author: Jesse Whittock
Source: Deadline
Joseph Fearn is an entertainment and television aficionado who writes for The Fashion Vibes. With a keen eye for what’s hot in the world of TV, Joseph keeps his readers informed about the latest trends and must-see shows.
