Masterchef maker eyes ITV takeover
French media group Banijay is in early stage talks over a potential takeover for British broadcaster ITV or its studio division.
Banijay, the producer behind shows including Masterchef, Peaky Blinders and Big Brother, has explored several options, first reported by the Financial Times.
These include a full acquisition of ITV, or a more contained bid just to take over the group’s production arm, ITV Studios.
Discussions are said to remain at an early stage, and there is no guarantee they will lead to a formal bid.
Interest in ITV’s Studios division has grown in recent months.
Several private equity funds have expressed interest in ITV Studios separately, according to people close to the matter.
The in-house production company is behind hits such as Love Island and Mr Bates vs the Post Office, and is seen as the most valuable part of the group.
Some analysts estimate ITV Studios alone could be worth just as much as ITV’s full market capitalisation, which currently stands above £3bn.
Possible European broadcast giant
The broadcaster’s share price has risen around 10 per cent this year, driven largely by speculation around a potential deal. ITV shares fell 2.91 per cent today amid broader market weakness.
Combined, Banijay and ITV would create one of Europe’s largest TV production groups, giving it greater scale as broadcasters and streamers reduce spending on content.
Banijay, headed by French entrepreneur Stephane Courbit and listed in Amsterdam, reported largely flat revenues across its production and distribution divisions last year.
The group’s entertainment and live arms generated £2.8bn in revenue, while production revenues fell 2.8 per cent year on year.
Meanwhile, ITV reported a sharp rise in pre-tax profits to £531m in 2024, driven by the strength of its studios division and digital growth at ITVX.
Yet, its broadcast business faces long term challenges amid streaming competition and changes in ad markets.
The firm’s early-stage talks with RedBird IMI to potentially spin off ITV studios prompted concern among political and media figures over the future of its commitment to both regional and local news.
Both Banijay and ITV declined to comment.