A potential merger between ITV and All3Media could provide ITV with opportunities for expansion and growth. ITV’s traditional advertising business has been on the decline, making its thriving production arm a valuable source of revenue. Featuring successful shows like Love Island and Bodyguard, ITV Studios experienced a remarkable 20% increase in revenue last year, reaching £2.1bn. Analysts even suggest that the value of ITV Studios may surpass that of ITV itself.
Such a merger would also support ITV’s streaming efforts through its recently launched ITVX platform. ITV has been actively investing in original programming as a core aspect of its expansion strategy. All3Media, which boasts popular shows like Homes under the Hammer and Fleabag, has been increasing its investment in high-end dramas to capitalize on the growing popularity of streaming platforms.
Other industry players, including French giant Banijay and private equity firms, are likely to express interest in acquiring All3Media. In 2014, Liberty and Warner Bros acquired All3Media for £550m, betting on the “golden age” of television. However, this deal resulted in significant debt for Warner Bros, currently standing at $49bn. Asset sales from Liberty’s portfolio could provide them with some benefits.
All3Media is currently led by Jane Turton, formerly a top executive at ITV Studios. Under her leadership since 2015, the company has expanded and now operates more than 50 production labels.
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