Wednesday 03 October 2018 1:16 pm | Updated: Tuesday 21 May 2019 4:25 pm

ITV shares rise as it rules itself out of buying Peaky Blinders maker Endemol Shine

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ITV shares lifted today after the company ruled itself out of the race to buy production house Endemol Shine.

Media reports had linked ITV to a bid for the Dutch creator of shows like Peaky Blinders and Big Brother, but in a statement to the market the broadcaster said it was not interested in striking a deal.

"In light of continued press speculation, ITV confirms that it has no current intention of making a bid for Endemol Shine Group," it read.

The broadcaster's share price rose four per cent after ITV sent the statement. Investors were previously concerned that a bid for the £3bn company would have to be funded through a shares or rights issue, which could dilute their shares.

Endemol is jointly owned by 21st Century Fox and private equity firm Apollo Global Management, who recently put the company up for sale.

ITV ruling itself out of a deal leaves Endeavour as a front runner to buy Endemol, although companies including Sony, All3Media and Lionsgate are among the names also rumoured to be in the mix.

Carolyn McCall, who joined ITV at the start of the year, in summer outlined her strategy for the broadcaster. She said that though the firm was on the hunt for acquisitions, it would have to be picky about which deals it pursued.

"We’re not just growing for growth," she said. "We’re growing to profitably grow and to give returns to shareholders. We have to be incredibly disciplined about any acquisition we make, whether that’s small or large."