Banijay said to be considering possible takeover bid for ITV and ITV Studios

ITV Studios’ slate includes Mr Bates vs The Post Office

French production and distribution giant Banijay is reportedly putting together a takeover bid to acquire UK commercial broadcaster ITV or its studio arm, ITV Studios (ITVS).

According to the Financial Times, Banijay and ITV have held talks about a possible acquisition, with options explored including a full takeover of ITV and ITVS or an offer to just acquire the latter.

If either of the two acquisitions were to go ahead, it would merge two of the largest production groups in Europe. ITVS’s content slate includes dating format Love Island and dramas Mr Bates vs the Post Office and Rivals, while Banijay is behind reality series Big Brother and drama Peaky Blinders.

ITV is currently valued at just over £3bn (US$4bn), although analysts have said ITVS could be worth that on its own. The company’s share price has risen by a 10th this year following discussions surrounding a potential takeover of ITVS by other interested parties, including private investment firm RedBird IMI in January.

Banijay’s BBC period drama Peaky Blinders

RedBird IMI, led by former CNN chief Jeff Zucker and backed by Emirati royal Sheikh Mansour bin Zayed Al Nahyan, acquired European production and distribution group All3Media for £1.15bn last year. If it were to acquire ITVS, it would merge the business with All3Media, according to Reuters.

Rumours of a possible sale of ITVS have been circulating for some time. Last November, reports emerged that several potential bidders were weighing up offers for all or parts of the business.

The potential bidders included All3Media, KKR-backed French prodco Mediawan and private equity firm CVC Capital Partners, the latter possibly in conjunction with France’s TF1 Group.

Banijay has already been involved in one of the biggest takeovers in recent years by acquiring Endemol Shine Group for US$2.2bn in 2020. The company houses dozens of production labels including Workerbee in the UK, Meter/Jarowskij in Sweden, Shine Fiction in France and Bunim/Murray Productions in the US.

ITVS also owns multiple production labels, including Lifted Entertainment, TwoFour and World Productions. The ITV network business operates linear channels ITV1, ITV2, ITV3, ITV4 and ITVBe, as well as streamer ITVX.