Banijay and Peter Chernin’s North Road Eye ‘Love Island’ Maker ITV Studios – Report
Banijay and North Road Entertainment are keen on to Love Island producer ITV Studios, according to Reuters.
The report suggests private equity-backed studio firms have also looked at the production and sales arm of ITV, which could fetch as much as £3BN ($3.7BN).
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Reuters cites sources who claim UK network ITV is willing to selling a portion of ITV Studios but is keen to keep control of the business, which has production assets in the UK, Europe, U.S. and Australasia and owns shows such as Love Island, I’m a Celebrity… Get Me Out of Here! and Life of Duty.
Rumors ITV was open to some sort of sale first emerged in the FT in October last year, though sources within ITV have consistently played down the idea and it has at times appeared off the market.
The news comes just a day after The North Road Company, which former Fox chief Peter Chernin launched last year, landed $150M from the Qatar Investment Authority “to support ongoing expansion. The company has already secured up to $500M in funding from the likes of Providence and $300M in debt financing from Apollo and acquired the U.S. production arm of Seven.One Studios.
The company has a London-based arm that is focused on global and acquisitions and co-productions, making it geographically close to ITV’s base in the UK’s capital.
Banijay acquired Endemol Shine Group for $2.2BN in 2021, creating the largest independent production player globally. Since then it has added several indies and has just closed a $30M deal for Australia’s Beyond International.
Last year, Banijay went public through new parent company FL Entertainment through a deal backed by investors such as Bernard Arnault, whose wealth is considered to match that of Elon Musk, and media and telecoms magnate Vincent Bolloré.
Banijay and Fremantle were linked to a deal when the ITV Studios news broke last year during Mipcom.
Banijay and ITV declined to comment today, while North Road had not responded to requests for comment.
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