ITV 'at risk of takeover' as bidders 'eye up' Britain's biggest commercial broadcaster

According to Sky's coverage, bidders have held (Image: Getty)

ITV could be facing a takeover, according to industry insiders. The UK's biggest commercial broadcaster is reportedly being "eyed up" by potential bidders.

It's thought one interested party are "starting to study the merits of a potential offer" after "share price weakness" and questions over the business' "long-term strategic destiny", according to Sky News over the weekend.

The outlet reports that "a number of possible bidders" are after parts or all of the company—famed for its huge TV shows, including Love Island and, more recently, Big Brother. Its biggest programme currently airing is I'm A Celebrity... Get Me Out Of Here!

According to Sky's coverage, bidders have held "early stage discussions" over recent weeks about "teaming up to pursue a potential transaction".

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Sky News cited industry sources and ITV's "share price weakness" (Image: Getty)

They are reporting that CVC Capital Partners and a major European broadcaster, thought to be France's Groupe TF1, are amongst those interested in buying ITV.

RedBird Capital-owned All3Media and Mediawan, is backed by the private equity firm KKR, were also "on the list of potential suitors for the ITV Studios production arm", according to Sky News.

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Sources said that ITV's board "had not received any recent unsolicited approaches" and that "prospects of any formal approach materialising was highly uncertain".

ITV cheif executive Dame Carolyn McCall has reportedly been discussing the merits of a demerger or other form of separation of its two main business units with the company's financial advisers Goldman Sachs, Morgan Stanley and Robey Warshaw.

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Sky reports that bankers and analysts reckon ITV Studios, behind huge shows including Disney+'s Rivals, would be worth "more than the entire company's market capitalisation in a break-up of ITV".

CVC could be interested in acquiring ITV Studios, with a European broadcast partner taking over its broadcasting arm, including the ITVX streaming platform, the outlet cites sources.

"At the right price, it would make sense if CVC wanted the undervalued production business, with TF1 wanting an English language streaming service in ITVX, along with the cashflows of the declining channels," one broadcasting industry told them.

"They would only get the assets, though, in a deal worth double the current share price."

Express.co.uk has contacted ITV for comment.