PRESS: Comcast in talks about buying ITV's television business - FT
Comcast Corp, the owner of the Sky pay-television business in Europe, is in talks to acquire ITV PLC’s media and entertainment unit, the Financial Times reported on Thursday.
Philadelphia-based Comcast sees the potential to combine ITV’s TV business with Sky, which the US group bought in 2018, to create a leading streaming service in the UK, FT sources said.
Talks are at an early stage, and there is no certainty of a deal being struck, while a number of other possible suitors are circling ITV, the FT said.
Shares in ITV closed down 1.7% at 67.35 pence each in London on Thursday for a market value of £2.53 billion. Comcast traded 1.6% lower at $27.49 in New York on Thursday.
According to Bloomberg, Morgan Stanley and bankers from Robey Warshaw, the London boutique recently acquired by Evercore Inc, are advising ITV on the potential deal.
Robey Warshaw and Evercore worked with Comcast on its acquisition of Sky seven years ago, while Morgan Stanley was among the advisers to Sky at the time.
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