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ITV Draws Interest from Potential Buyers Including CVC, Sky Says

By Valentine Baldassari
SALFORD, ENGLAND - JANUARY 05: The ITV logo is displayed on studio buildings studios at Media City in Salford Quays which is home to the BBC, ITV television studios and also houses many media production companies on January 5, 2015 in Salford, England. The BBC and neighbour ITV Granada with its cobbled street studios of ITV soap opera 'Coronation Street', line the banks of the Manchester Ship Canal. (Photo by Christopher Furlong/Getty Images) (Christopher Furlong/Photographer: Christopher Furlon)

(Bloomberg) -- CVC Capital Partners is among companies studying potential bids for all or parts of ITV Plc, as a depressed share price and doubts about strategy spark renewed interest in the broadcaster, Sky News reported on Saturday.

CVC and an unidentified European broadcaster are exploring the merits of a transaction, Sky said, citing industry sources it didn’t identify. CVC could be interested in ITV Studios, with the broadcaster potentially taking ITV’s broadcasting arm, which includes the ITVX streaming platform, according to the report.

All3Media Holdings Ltd., owned by RedBird Capital Partners, and Mediawan SA, backed by KKR & Co., may also be interested in ITV Studios, Sky said, adding that none of the deliberations is at a sufficiently advanced stage to require disclosure under UK rules.

Chief Executive Officer Carolyn McCall has discussed the merits of separating the company’s main business units with financial advisers, according to the report.

ITV and CVC declined to comment to Sky, while RedBird and Mediawan didn’t respond to its requests for comment.

ITV shares have tumbled 11% this month after the company forecast a decline in total advertising revenue this quarter. ITV last year explored a takeover of All3Media before abandoning its pursuit a month later.

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