UK broadcaster ITV seen as possible takeover target — report

Broadcasting

UK commercial TV network ITV Plc (LON:ITV) may once again be the target of a takeover bid, Reuters reported quoting three traders.

Securequity sales trader Jawaid Afsar told the news agency that ITV may lure bidders because of the company’s plan to extend its operations in the US.

In December, ITV announced it had agreed to acquire a 61.5% stake in US factual entertainment and reality programmes producer Gurney Productions Ltd for USD40m (EUR30m).

The broadcaster’s shares went up to the top of the UK’s benchmark FTSE 100 in heavy volume, reaching their highest level since mid-2007 due to the rumours, Reuters said.

Last October, the Daily Mail reported that buyout firms and media companies could have been targeting ITV.

0saves
If you enjoyed this post, please consider leaving a comment or subscribing to the RSS feed to have future articles delivered to your feed reader.

Leave a Comment

Powered by WordPress