Analysis: Sky's ITV Bid Is A Head-Scratcher For Some, But There Is Logic To The $2B Deal [Yahoo! Finance]
ITV PLC UNSP/ADR (ITVPY)
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Source: Yahoo! Finance
Famed for launching Downton Abbe y, the network has been courting sale interest for well over a year, but for all the industry chatter and press speculation, ITV's silence has been stony. That all changed on Friday, when the UK broadcaster dropped a bombshell worthy of Love Island : a buyer has entered the villa. In a 70-word statement, ITV told shareholders that Comcast-owned Sky has made a £1.6B ($2.1B) bid for its media and entertainment division, which houses its TV networks and streaming service. If a deal is completed — and it remains an if — then ITV will be split in two, with shareholders retaining control of ITV Studios, the production and distribution unit behind shows including Fool Me Once and The Voice More from Deadline ITV Orders 'Breaking Ranks: Inside Israel's War' Documentary With Testimony From IDF Soldiers ITV Confirms Talks With Sky Owner Comcast Over $2.1B Sale Of Networks Arm Comcast, On The Move, Hires Bankers To Explore WBD Bid & Eyes ITV's Broadcast
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News
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- Institutional investors are ITV plc's (LON:ITV) biggest bettors and were rewarded after last week's UK£494m market cap gain [Yahoo! Finance]Yahoo! Finance
- ITV in Talks to Sell Networks Arm to Comcast-Owned Sky for $2.1 Billion [Yahoo! Finance]Yahoo! Finance
- What would the sale of ITV's television business to Sky mean for STV? [Yahoo! Finance]Yahoo! Finance
- ITV Targets Extra $46M In Cost Savings Amid “Softening Economy” In UK [Yahoo! Finance]Yahoo! Finance