ITV is mulling the possible sale of its production arm to help lift the media giant’s ailing share price.
The FTSE100 firm is reviewing the future of ITV Studios, which is one of the largest content producers in Europe, making shows such as Love Island, amid a boom in demand for new series from broadcasters and streaming giants.
Sell-off: The firm is reviewing the future of ITV Studios, which is one of the largest content producers in Europe, making shows such as Love Island (pictured)
Insiders said ITV boss Carolyn McCall is fed up with the division being overlooked by the market and was ‘open to doing something’, The Financial Times reported.
Potential buyers include private equity firms as well as other major production houses such as French giant FL Entertainment.
Analysts at Citi previously estimated the Studios arm could be worth as much as £3billion.
ITV’s share price has fallen 45 per cent so far this year as investors worry that the UK’s economic downturn will hit demand for advertising.
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