Gone long here today. System pick churned out last night. chart to follow.

http://www.investegate.co.uk/Article.aspx?id=201105310700214782H

Entertainment One Ltd.

Fisher-Price appointed as US Toy Partner for Peppa Pig

Entertainment One Ltd. (LSE: ETO), the international entertainment group, is pleased to announce that it is working with leading toy manufacturer Fisher-Price (a subsidiary of Mattel Inc) as the Company's partner in the United States for Peppa Pig to develop a comprehensive toy line based on the animated pre-school TV series.

UPDATE 1-E-One, Fisher-Price tie up for Peppa Pig toy line
31 May 2011 - 08:19

* Toys expected to be available by Christmas 2012

* E-One shares rise 5 pct


(Adds details)

May 31 (Reuters) - Entertainment One Ltd said it was working with Fisher-Price, part of the world's largest toy maker Mattel Inc , to develop a toy line in the United States based on its popular pre-school TV show 'Peppa Pig'.

Details of the partnership will be finalised in the coming weeks and the product is expected to be available in time for Christmas 2012, Entertainment One said.

'Peppa Pig', a British animated series starring girl pig Peppa and her younger brother George, began appearing on Nick Jr in the United States in February and already ranks in the channel's top 10 shows, the company said.

"The initial success of the TV ratings illustrates the potential of the show and the confidence we have that the brand will be a big hit with U.S. consumers," Chief Executive Darren Throop said in a statement.

The Toronto-based entertainment company said it would look to replicate the success of its UK toy category, which had retail sales of more than 200 million pounds ($324.4 million) last year.

Entertainment One shares, which have gained more than half their value since the company signed a three-year U.S. deal for 'Peppa Pig' in November, were up 5 percent at 176.5 pence at 0709 GMT on Tuesday on the London Stock Exchange.

($1 = 0.616 British Pounds)

(Reporting by Anne Pallivathuckal in Bangalore; Editing by Maju Samuel)

Fantastic news for ETO......

http://moneyam.uk-wire.com/cgi-bin/articles/201107140700103639K.html

BRIEF-Entertainment One sees major boost from LOVEFiLM deal
14 Jul 2011 - 07:22

LONDON, July 14 (Reuters) - Entertainment One Ltd :

* Signed an exclusive output deal with lovefilm

* Expects its trading for the year and beyond to be significantly ahead of

market expectations

((London Equities Newsroom; +44 20 7542 7717))

ETO moving up nicely in a rotten market today. Expecting broker upgrades.

Upgrades are a certainty here given the news, never mind the on-going progress of Peppa

RNS Number : 1864O

Entertainment One Ltd

14 September 2011


Date: 14 September 2011
On behalf of: Entertainment One Ltd. ('the Company', or 'the Group')
For immediate release

Entertainment One Ltd.

Response to press speculation

The Board of Entertainment One Ltd. notes the recent press speculation and confirms that it is considering its strategic options, which may include a sale of the Company in response to interest it has received from various parties. J.P.Morgan and Credit Suisse have been engaged to co-ordinate the review for the board. There can be no certainty that an offer will be forthcoming for the Company. A further announcement will be made in due course.

takeover talks (not quit disney though is it?) sorry about the lengthy link! telegraph

http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/media/8933421/Zodiak-in-takeover-talks-for-Entertainment-One.html

Currently at 168p. Prospects for Christmas looking good especially with Peppa launching in the US. A couple of recent interesting deals with Spielberg and Alliance Films. Surprised at lack of interest on this forum.

Gone back in long here.

Chart looks to have plenty of momentum and Ive noticed the company have reported updates around this time every year.

Looks pretty cheap on fundies aswel.

Peppa Pig expands into Russia
RNS
RNS Number : 3236Z
Entertainment One Ltd
06 March 2013



Date:
6 March 2013

On behalf of:
Entertainment One Ltd. ('the Company')

Embargoed until:
0700hrs






Peppa Pig expands into Russia

· Now airing daily on Russia's leading children's TV channel

· Retail and advertising rollout from Spring 2013

· Further merchandise launches in Italy, Benelux, Canada and the Nordics



Entertainment One Ltd.,the international entertainment group, is pleased to announce the expansion of Peppa Pig into the Russian pre-school market, with the show being aired daily on Russia's leading children's TV Channel, Karusel.



Russia's premiere licensing partner Rosman Press has been appointed as master partner and, working alongside eOne, will roll-out to the Russian retail market from Spring 2013. The range, which will include toys, books, Peppa magazines, arts and crafts, will be supported by TV advertising and a localised Peppa Pig website is in development to focus consumer awareness.



In addition to the launch in Russia, Peppa merchandise is due to launch in Italy, Benelux, Canada and the Nordics this year.



Darren Throop, President & CEO, Entertainment One said:

"I am delighted to announce Peppa's arrival in Russia. This is yet another exciting development for eOne Family, and a further step in our strategyfor Peppa to become a global entertainment brand.

"As one of the world's fastest emerging markets for licensed merchandise, we see huge potential for the brand in Russia. We are delighted to be working with Rosman and Karusel, and are confident that with their help we will emulate the success we have seen introducing the Peppa brand and merchandise to the USA, Spain and Australia over the last 12 months."



Enquiries:







Redleaf Polhill
Emma Kane

Rebecca Sanders- Hewett


+44 (0) 207 566 6720

eOne

Off Twitter.......

Paul Kavanagh ‏@KavanaghKillik 1h

#EntertainmentOne 275 films in 2013 v 200 in 2012. #HungerGames, #CatchingFire #RED2. TV 290 1/2hr programs v 237 in 2012. #PeppaPig strong

Paul Kavanagh ‏@KavanaghKillik 1h

Film co. #EntertainmentOne update. Synergies with Alliance merger being achieved faster. Rev +15% in Q4. Pfts in line.

GrowthCompany.co.uk ‏@growthcompany 1m

News: Entertainment One grows 15%: Film and television company Entertainment One (LON:ETO) expects revenues to... http://tinyurl.com/c4apujj

Peppa proving to be more popular in Spain than any other region in past 12 months. On partial data, last week was the most popular ever for Peppa - 20% more searches than previous high.

Top 5 regions by popularity (Google):
1 Spain
2 UK
3 Italy
4 Australia
5 Poland

Results released today.

ETO Results 21/05/13

"The Company is actively considering a transfer of the listing category of all of its common shares from the standard listing segment to the premium listing segment of the Official List of the Financial Conduct Authority subject to satisfying the required eligibility criteria and has made application to the UK Listing Authority

The Board intends to adopt a progressive dividend policy, with an inaugural dividend payment expected to be made following the 2014 full year financial results"

From IC today - Chart breakout looms

It's worth noting that Entertainment One’s shares are also within touching distance of their record high of 209p. It's blue-sky territory after that. A higher valuation would be fully justified on fundamentals. With the full contribution from the acquisition of Alliance Films to come, broking house Peel Hunt expects revenues to soar to £840m in the current financial year to end March 2014, up from £629m in the year to March 2013. On this basis, pre-tax profits are forecast to increase by more than 40 per cent from £53.8m to £76m in the financial year to March 2014. In turn, this lifts EPS from 15.9p to 20p. May's full-year results gave reason to believe that Entertainment One's management team can hit these estimates. For good measure, the company's board has proposed the introduction of a progressive dividend policy for the end of the current year.

In the circumstances, I continue to rate Marwyn's shares, on a spread of 156p to 159p, a value buy and have lifted my price target from 165p to 185p. I also rate Entertainment One shares a trading buy and have a three-month target price of 240p, equating to a forward PE ratio of 12. This is slightly below the 250p target price of broking house Peel Hunt.

Interim Management Statement

RNS


RNS Number : 9957J

Entertainment One Ltd

24 July 2013



Date:

24 July 2013


On behalf of:

Entertainment One Ltd. ('the Company', or 'the Group')


Embargoed until:

0700hrs






Entertainment One Ltd.

Interim Management Statement

Entertainment One Ltd., the international entertainment group, presents its Interim Management Statement covering the quarter ending 30 June 2013:

§ Year-to-date reported Group revenues up over 40% on prior year, with Group digital revenues more than doubling

§ Year-to-date investment in content and programmes 85% higher than prior year levels

§ Full year earnings expected to be in line with management expectations



Overview

The Group has had a strong start to the financial year, with year-to-date reported revenues up 40% on prior year and Group digital revenues more than doubling, now representing more than 20% of Group revenues. EBITDA margin is up year-on-year, driven by improved gross margin percentages in both the Film and Television divisions, and with operating costs in line with management expectations.



The Group intends to release over 250 films during the current financial year, including The Hunger Games: Catching Fire, RED 2, Now You See Me and Ender's Game. Investment in content and programmes is expected to increase to over £250 million in the current financial year (2013 pro-forma with Alliance: £219 million).



The Group expects earnings for the financial year to be in line with management expectations.



Film

Reported Film revenues have increased by over 65% on prior year (pro-forma in line year-on-year), driven by 68 box office releases (compared to 49 in the prior year) and the performance of the enlarged library of films across the Group. Total box office takings of $68 million were more than three times prior year levels. Theatricalreleases have included Now You See Me, MUD, The Place Beyond the Pines, Scary Movie 5, The Big Wedding and Behind the Candelabra. DVD releases have included Django Unchained, The Impossible, Safe Haven, The Silver Linings Playbook and Bullet to the Head.

Television

Year-to-date Television production is in line with management expectations, delivering 26 half hours in the first quarter, and the production slate for the financial year includes commissioned renewals for season two of Saving Hope, season three of Hell on Wheels and season four of Haven. New shows in production include Klondike, the Discovery Channel's first scripted mini-series. The pipeline of future programming was further enhanced by the recently announced season five of Rookie Blue.

Peppa Pig continues to perform well internationally, and in the US it is now enjoying two prime time slots on Nick Jr. In addition, the Group has strengthened its licensing and brand management business through the acquisition of Art Impressions, an LA-based brand-development and licensing business which owns three key brands, So-So Happy, Skelanimals and Galaxy Girls.

Financing

The Group's operating cashflows are up year-on-year supporting the increased investment in content and programmes, which is over 85% higher in the quarter to 30 June 2013. Net debt at 30 June 2013 was higher than the corresponding point in the prior year, primarily as a result of the Alliance acquisition, and up on the year end position reflecting higher investment in content and programmes. The Group's net asset position is broadly in line with its year end position.

Corporate Development

On 1 July 2013, the Company transferred the listing of its common shares to a Premium Listing on the Official List of the FCA and the Main Market of the London Stock Exchange and expects to be considered for inclusion in the UK FTSE Index Series.

Red-hot summer


http://www.edisoninvestmentresearch.com/researchreports/eOne240713Flash.pdf

IC's Simon Thompson today - Shares in film distributor and producer Entertainment One

(ETO: 204p) are closing in again on a major share price breakout. This is partly driven by technical buying, but also a re-rating that looks fully warranted at an operational level.




On Monday, Entertainment One Ltd (ETO:LSE) closed at 205.00, 0.00% below its 52-week high of 205.00, set on Jul 01, 2013.

A buy in IC - target price 240p

Library valuation increases to $650 million

RNS


RNS Number : 7354L

Entertainment One Ltd

15 August 2013







Date:

15 August 2013


On behalf of:

Entertainment One Ltd. ('the Company', or 'the Group')


Embargoed until:

0700hrs






Entertainment One Ltd.

Library valuation increases to $650 million

Entertainment One Ltd., the international entertainment group, is pleased to announce its updated library valuation of over $650 million, as independently valued by FTI Consulting Inc.

The Group's library valuation has increased by more than 85% on the 2012 valuation of $350 million, mainly driven by the acquisition of Alliance Films Holdings Inc. in January 2013 and the Group's increased investment in film and television content across all of its international operations.

Darren Throop, Chief Executive Officer, commented:

"This significant increase in our library's value reflects the Group's continuing strategy of investing in world-class film and television content and exploiting our rights through our international network on a multi-territory, multi-platform basis. Our substantial content library underpins the Group's valuation at a key point in its development with the Company being considered for inclusion in the FTSE UK Index Series."

IC, Simon T, today - Lights, camera and price action

As I predicted shares in film distributor and producer Entertainment One

(ETO: 218p) have signalled a major share price breakout. This is partly driven by technical buying as the shares gained a full listing on the London Stock Exchange last month, so will now be eligible for entry into the FTSE indices. And with a market value of £617m, the group is a live candidate for entry into the FTSE 250 at the next quarterly review in the first week of September. This will force index-tracking funds to buy the shares before they officially enter the index in late September. Moreover, having taken out the 209p all-time high, dating back three years, a rally towards my three-month target price of 240p is now on the cards since the share price is in blue-sky territory.

The re-rating also looks fully warranted both on an operational level and based on the value in the company. In a first-quarter trading update to the end of June, the group revealed that revenues in the three-month period increased 65 per cent on the prior year (pro-forma in line year-on-year once you factor in acquisitions). This has been driven by 68 box office releases (compared with 49 in the prior year) and a solid performance from the enlarged library of films. And in a release last week, Entertainment One confirmed that the library has been valued at $650m, or £420m. This includes more than 35,000 film and television titles, 2,800 hours of television programming and 45,000 music tracks. It also offers solid asset backing as the library alone is worth 148p as share.

In films, total box office takings of $68m (£44m) were more than three times prior year levels. Film releases include Now You See Me, The Big Wedding and Behind the Candelabra. And in television, Peppa Pig continues to perform well internationally. In the US, it is now enjoying two prime time slots on Nick Junior. In addition, the group has strengthened its licensing and brand management business through the acquisition of Art Impressions, an LA-based brand-development and licensing business which owns three key brands, So-So Happy, Skelanimals and Galaxy Girls.


Low valuation

Ahead of a pre-close trading update for the first half at the end of September, broking house Peel Hunt expects pre-tax profits to increase by more than 40 per cent from £53.8m to £76m on revenues up a third to £840m in the 12 months to the end of March 2014. On that basis, EPS rises from 15.9p to 20p and even after the recent re-rating the shares are still modestly priced on a prospective PE ratio of 11.

The combination of technical buying by fund managers, and likely positive newsflow in the forthcoming trading update, means there are obvious catalysts in place for further upside. In the circumstances, I have no hesitation in reiterating my bullish stance on Entertainment One's shares. Priced on a bid-offer spread of 215p to 218p, they rate a trading buy and I maintain my conservative target price at 240p.

IC today - Simon T has a fair value of 240p

Exclusive three-year deal with AMC Networks

RNS


RNS Number : 2697N

Entertainment One Ltd

05 September 2013







Date:

5 September 2013


On behalf of:

Entertainment One Ltd. ('the Company', 'eOne' or 'the Group')


Embargoed until 0700hrs




Entertainment One Ltd.

Exclusive three-year deal with AMC Networks



Entertainment One Ltd., the international entertainment group, is pleased to announce that its Television division has agreed an exclusive three-year television output deal with US-based AMC Networks.

Under the terms of the agreement, eOne Television will handle international distribution (including digital and home entertainment rights) for all original scripted series from AMC's US-based networks which comprise AMC and the Sundance Channel. The first three series to be part of this deal are Halt and Catch Fire, Turn and The Red Road.

The agreement represents AMC and Sundance Channel's first exclusive international output partnership for scripted content, and demonstrates the strength of the growing eOne/AMC relationship. eOne is the producer and international distributor of AMC's ratings success Hell on Wheels, and international distributor of The Walking Dead.

In addition to Hell on Wheels, eOne's current scripted series include suspense-drama Rogue, starring Thandie Newton; Rookie Blue; Call Me Fitz; and Discovery Channel's keenly-anticipated television series Klondike.

eOne Television has successfully sold eOne's original and third-party productions to over 500 broadcasters in 150 countries, including key US networks and international pay TV channels, due to its strong relationships with broadcasters and content providers.

Darren Throop, Chief Executive Officer, commented:



"AMC has evolved into one of the world's most successful cable networks, with an exceptional slate of high-quality programming. Our relationship with the US network has gone from strength to strength, and clearly demonstrates our expertise in international distribution. We look forward to continuing our work with AMC now and in the future."

Entertainment One added to FTSE250.

Pre-close trading update

RNS


RNS Number : 8148O

Entertainment One Ltd

25 September 2013







Date:

25 September 2013


On behalf of:

Entertainment One Ltd. ('the Company', or 'the Group')


Embargoed until:

0700hrs






Entertainment One Ltd.

Pre-close trading update

Entertainment One Ltd., the international entertainment group, provides the following trading update prior to its close period commencing on 30 September 2013:

§ On a reported basis, Group revenues and EBITDA are significantly higher than the comparative period, reflecting the acquisition of Alliance Films Holdings Inc. in January 2013

§ Trading in the first six months of the current financial year has continued in line with management expectations

§ Full year earnings anticipated to be in line with management expectations



Overview

The Group has had a strong first half of the financial year, with reported Group revenues and EBITDA significantly higher than the comparative period.



The Group expects to release over 250 films during the current financial year, including The Hunger Games: Catching Fire, Prisoners, 12 Years a Slave and Ender's Game. Investment in content and programmes is expected to increase to over £250 million in the current financial year (2013 pro-forma with Alliance: £219 million).



The Group expects full year earnings to be in line with management expectations.



Film

On a reported basis, Film revenues are higher than the prior year (pro-forma in line year-on-year), driven by increased number of box office releases and the performance of the enlarged library of films across the Group. Theatrical releases have included Now You See Me, Rush, The Place Beyond the Pines, Scary Movie 5, Insidious: Chapter 2 and Behind the Candelabra. DVD releases have included Django Unchained, The Impossible, Safe Haven, Silver Linings Playbook and Bullet to the Head.

Digital revenues in the division have more than doubled in comparison to the prior year which, alongside synergies from the combination of the Alliance film business, has helped drive improved gross profit and EBITDA margins.

Television

Year-to-date, Television production is in line with management expectations, and the production slate for the financial year includes commissioned renewals for season two of Saving Hope and Rogue, season three of Hell on Wheels and season four of Haven. New shows in production include Klondike, the Discovery Channel's first scripted mini-series. The pipeline of future programming was further enhanced by the recently announced season five of Rookie Blue.

During the period, the Group's Television business signed a new three-year output deal with AMC Networks under which it will handle international distribution (including digital and home entertainment rights) for all original scripted series from AMC's US-based networks which comprise AMC and the Sundance Channel. The first three series to be part of this deal are Halt and Catch Fire, Turn and The Red Road.

Peppa Pig continues to perform well internationally, and in the US it is now enjoying a one-hour prime time slot on Nick Jr., Monday to Sunday, having improved its overall ratings over the summer.

Corporate Developments

The Group recently finalised its independent library valuation, valuing its Film, Television and Music library in excess of US$650 million, up from US$385 million at 31 March 2012.

On 1 July 2013, the Company was admitted to the premium segment of the Official List of the Financial Conduct Authority.

The Company was included in the UK FTSE 250 Index Series on 23 September 2013.

Entertainment One boosted by Alliance Films acquisition

Wed, 25 September 2013


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Film and television content company Entertainment One said it enjoyed a strong first half with earnings significantly higher than the comparative period and it remains confident that full year figures will be in line with management expectations.

The group, which hosts the UK's popular children show Peppa Pig, said on a reported basis, group revenues and earnings before interest, taxes, depreciation and amortisation (EBITDA) grew significantly from the year earlier, reflecting the acquisition of Alliance Films in January 2013.

The group says it expects to release over 250 films during the current financial year, including The Hunger Games: Catching Fire, Prisoners, 12 Years a Slave and Ender's Game.

Investment in content and programmes is expected to increase to over £250m in the current financial year.

The group's independent Film, Television and Music library has been valued in excess of $650m, up from $385m at March 31st 2012, boosted in part by the acquisition of Alliance Films.

25 Sep Investec 270.00 Buy

Entertainment One: N+1 Singer initiates with a target price of 258p and a buy recommendation

And Investec with buy recommendation yesterday tp 270p. Peel Hunt last week, buy tp 280p

Notice of Results

RNS


RNS Number : 3385P

Entertainment One Ltd

01 October 2013







Date:

1 October 2013


On behalf of:

Entertainment One Ltd. ('the Company', or 'the Group')


Embargoed to: 0700hrs










Entertainment One Ltd.

Notice of results



Entertainment One Ltd., the international entertainment group, will announce its interim results for the 6 months ended 30 September 2013 on 19 November 2013.



An analyst breakfast will be held at 9.00am on the day at The Andaz, 40 Liverpool St, EC2M 7QN in the Andaz Studio. For more information, or to register to attend, please contact Rachael Brown at Redleaf Polhill on 020 7382 4736 or rb@redleafpr.com.

11 Oct JP Morgan... 274.00 Overweight

Entertainment One Ltd (ETO:LSE) set a new 52-week high during today's trading session when it reached 235.80. Over this period, the share price is up 39.47%

Tipped this one last night on chart attack thread.

g, Simon T of IC has been promoting this as well. Looks good.

Usualy a solid steady riser.

Entertainment One Ltd (ETO:LSE) set a new 52-week high during today's trading session when it reached 249.00. Over this period, the share price is up 47.56%.

Very nice.

Not just a 52 week high, I believe its actually the all time high.

Simon T of IC has lifted his target price from 240p - 250p

14 Oct JP Morgan... N/A Overweight
11 Oct JP Morgan... 274.00 Overweight

Interim Result
19 Nov 13 Entertainment One Group [ETO]

Interim Results


Operating highlights

- Significant growth in the Film Division driven by the acquisition of Alliance Films Holdings Inc. ("Alliance") and increased investment in acquired content, delivering improved margins, supported by Alliance integration synergies which are substantially complete

- Television Division delivered 130 half hours of television programming with new seasons ordered of Rookie Blue, Hell on Wheels, Rogue and Saving Hope, and signed a new exclusive three-year output deal with US-based AMC Networks

- The Family business continues to perform strongly with the Peppa Pig overseas licensing programme showing strong growth in the period

- Strong operating cash flow of £114.3 million, up 88% (2012: £60.8 million)

- Full year outlook in line with management expectations





Strategic highlights

- Independent annual valuation of the Group's film, television and music library has increased by almost 70% to over $650 million (2012: $385 million)

- Acquisition of Art Impressions, a Los Angeles based brand and licensing agency, significantly strengthens the Group's brand licensing business

- Inclusion in the FTSE 250 UK Index Series effective from 23 September 2013, following admission to the premium listing segment of the Official List of the Financial Conduct Authority on 1 July 2013

- Intention of the Board remains to announce an inaugural dividend, with payment to be made following the 2014 full year financial results


http://www.moneyam.com/action/news/showArticle?id=4708490

19 Nov N+1 Singer 258.00 Buy
19 Nov Investec 270.00 Buy

Simon T. of IC today - So, having reassessed the investment case, I have lifted my fair value target price range to 265p-270p and continue to rate Entertainment One's shares a buy ahead of the next trading update in the first quarter next year.

LISTEN: Giles Willits, CFO of Entertainment One, discusses the interim results for the leading international entertainment company

Click here to listen

Sold in at 198p out at 241p.

New high at 257 today

Another new high at 290 today. Up 6%.

---

Entertainment One to be ahead of forecasts

StockMarketWire.com

Entertainment One expects full year earnings to be ahead of management forecasts.

The group says reported revenues for the 10 months to the end of January rose by 56%, driven by growth in both its film and television divisions, with pro forma revenues for the period up 7.5% on a constant currency basis.

Gross margins also increased, with improvements in both film and television driven by the continued increase in investment returns and cost synergies following the Alliance acquisition

Investment in content and productions was higher during the period, with a strong schedule of film releases and television programming in place for the new financial year

---

Currently sitting at around 341p, up 5% this morning on the news.

eone- Final results for the year to 31 March 2015

click here

On a mission early doors.

Time for a happier chart...

Cazenove comment today:
"eOne shares have been weak in the last 12m (down c.-50%) which we believe has been driven by several factors including a) a reduced 2016 film slate, b) one-off effects that have reduced cash flow, c) the company’s £200m rights issue to gain control of Peppa Pig and d) the company’s recent £285m refinancing (at 6.875%). However, as highlighted before, we expect FY16 results (end March 16) to be the tipping point for cash conversion (JPMe 55% in FY16, vs. 38% in FY15) and remain buyers into the upcoming 9M15 trading statement (likely first week of March). With the shares now trading on c.6.5x cal. 2016E P/E, we see risk-reward as very attractive given several growth opportunities from TV production, the Mark Gordon company and rolling out the Family business (Peppa Pig and other) globally. Our 2016E/2017E adj. EPS estimates of 19.8p/20.6p are above BBG consensus at 19.6p/20.1p.
*We forecast improving FCF metrics for FY16. Rightly or wrongly eOne’s ability to generate cash remains a key focus area for investors. Given that the company is continuing its growth strategy, we expect interim production financing to continue increasing (JPMe 2016/2017/2018 £100m/£135m/£170m). However, we calculate that FY2016 results may provide an inflexion point in terms of cash generation with operating CF growing faster than investment spend (with the cash generative Family business gaining further importance in the Group context). We calculate improving FCF going forward (JPMe £75m/£97m/£112m for 2016E/2017E/2018E for adj FCF).
* Our estimates may prove too conservative. We calculate 2016E-2018E adjusted Group EBITDA CAGR of +15% with TV Production (+24%) and Family (+17%) as key growth drivers. Further upside potential comes from
the Mark Gordon business which could produce hit series (eg similar to MGC’s Grey’s Anatomy, Criminal Minds), performing materially better than we currently anticipate.
* Our 2016E/2017E EPS estimates change by -4.5%/-2.4% largely due to higher interest in 16E and marginally lower EBITDA margins in 17E."

FT and Bloomberg both reporting that ITV will make a takeover bid for Entertainment One.

Entertainment One rejects takeover bid of 236p.

ITV has scrapped its plan to buy Entertainment One (eOne), the maker of Peppa Pig, after its initial approach was rejected as undervaluing the company.

The broadcaster said it had a “clear view of the value of the business” and that it “appears this value is different to the level at which the board of eOne would currently engage in a more formal process”.

ITV proposed a takeover of eOne at 236p per share a fortnight ago as the latest stage of its plan to bulk up its production business.

Shares in eOne tumbled more than 14pc on ITV’s withdrawal, to 215p. ITV’s own shares spiked nearly 2pc.