ITV sizes up Weinstein TV deal

UK commercial broadcaster ITV is eyeing up a potential purchase of The Weinstein Company’s (TWC) TV division in a deal worth up to US$950m.

Harvey Weinstein

The broadcaster is reportedly in talks to buy Weinstein Co’s TV unit, according to reports in the US but both parties have declined to comment at this stage.

The agreement could be worth as much as US$950m and would include an upfront payment of between US$300m and US$400m, before a package of compensation and bonuses are included.

If completed, the transaction would be the latest in a string of US acquisitions by ITV. Recent high-value purchases include John de Mol’s Talpa Media, Pawn Stars outfit Leftfield Pictures and Teen Wolf Producer DiGa Vision, among others.

It is expected that the company would continue to run under the direction of TWC co-chairman Harvey Weinstein and other execs.

With his company known for Oscar-winning films such as this year’s Imitation Game, Harvey Weinstein has prioritised TV in recent years with shows including Project Runway on Lifetime and Mob Wives on VH1.

On the scripted side, the firm has been commissioned to make a second season of epic adventure series Marco Polo for Netflix in the US and is developing a War and Peace miniseries for the BBC with Simon Vaughan’s Lookout Point and BBC Worldwide.