ITV must now be a bargain. The current team clearly are an issue but you'd think the big American companies would recognise the bargain.

The yield is also high and can be reinvested. That really does limit the down side. You can even win here if it drops further!

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https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0CCQQFjAA&url=http%3A%2F%2Fwww.wsj.com%2Farticles%2Flibertys-john-malone-eyes-content-consolidation-1433360774&ei=kUxxVZ7-CMz0UvezgKgO&usg=AFQjCNGzTTgx6RwwfekseVOsRQvLQ9Xx_w&bvm=bv.95039771,d.d24

ITV is close to announcing that the acquisition of Plymouth-based independent TV production company TwoFour.

The deal, which could be announced as early as this week, would be a major addition to ITV’s ongoing strategy of snapping up production houses in the UK and overseas, notably the US. Analysts believe such acquisitions could make ITV itself a more attractive bid target.

The deal will end a tempestuous period in TwoFour’s corporate history. In October 2013, it was bought by Boom Pictures, the investor indie set up by former BBC1 controller Lorraine Heggessey. However in June 2014, Heggessey abruptly left Boom.

The group was subsequently rebranded with the TwoFour name, and former TwoFour Broadcast chief Mel Leach was made CEO. Leach is widely credited with transforming TwoFour from a small regional indie into a national player, expanding from one daytime franchise in 1997 – Collectors Lot on Channel 4 – to making primetime shows for all of Britain’s major broadcasters.

TwoFour will significantly extend ITV’s reach in popular factual programmes, with TwoFour’s recent commissions including Kings & Queens of Speech for Sky1 and Kate Humble: Living with Nomads for BBC2.

The purchase price of the ITV deal is not yet known, but industry estimates put the figure close to £70m industry average takeout price of nine times price-earnings. Combined revenues for the two companies is about £70m.

TwoFour has enjoyed a string of hits recently, including The Jump and Educating Essex for Channel 4. It also made two series of the Tom Daley diving show Splash! for ITV, and is making the channel’s upcoming physical game show Eternal Glory.

The deal would also see former ITV drama commissioners Laura Mackie and Sally Haynes, whose drama indie Mainstreet Pictures operates under the TwoFour umbrella, return to the ITV fold. Mainstreet is currently making a six-part thriller, The Forgotten, for the ITV network.

ITV’s other UK indie acquisitions include The Garden and Big Talk.
An ITV spokesman said: “We do not comment on speculation.”

Analysts believe such acquisitions could make ITV itself a more attractive bid target.

This will be interesting for you Chris, being a chart expert

https://private.tradingcentral.com/chart/ITVGBp150610101822.gif



Our preference: target 244.75.

Alternative scenario: above 271.25, look for 280.5 and 285.75.

Comment: the RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the stock is trading under its 20 day MA (267.06) but above its 50 day MA (260.64). ITV is currently trading near its 52 week high reached at 277.4 on 29/05/15.

Supports and resistances: 285.75 ** 280.5 * 271.25 ** 267.75 263.9 last 250.25 244.75 ** 239.5 *

234 ** --- TRADING CENTRAL is a commentary service specialising in technical analysis.

Thanks for the compliment alders, but you are confusing me with someone who knows what they are doing :0) I am far from being a chart expert. I think like most stocks ITV will be range bound during the summer months.

http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/media/11690018/ITV-threatens-legal-action-against-BBC-production-plans.html

Good start today

http://www.express.co.uk/finance/city/586708/ITV-Twofour-production-broadcast

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ITV is one broadcaster that has called for the introduction of the fees in the U.K., which are already present in the U.S, but analysts said Ofcom's statement is a blow to the company's strategic ambitions. ITV wasn't immediately available for comment.

"This will be disappointing for ITV and investors that had high hopes of this coming through," said Citi analyst Thomas Singlehurst.

At 0907 GMT, ITV's shares had fallen 1% to 264 pence, valuing the company at 10.8 billion pounds ($16.9 billion).

As well as the trend to online viewing, the U.K.'s public and commercial broadcasting sectors have been shaken up as telephony, broadband Internet and pay-TV operators join a race to consolidate and bundle services and build customer loyalty and revenue in an increasingly competitive market. Key companies joining this space are BT Group PLC (BT.A.LN), Sky PLC ( SKY.LN) and Liberty Global PLC (>> Liberty Global PLC).

And streaming platforms like U.S.-based Netflix are also competing for viewers.

"It is difficult at this stage to predict the full impact of the new internationalplayers and platforms that are entering the U.K. market," Ofcom said. "The market is evolving quickly."

Ofcom is required to report periodically on the delivery of public service content with a view to maintaining and strengthening the public service broadcasting industry.

Write to Simon Zekaria at simon.zekaria@wsj.com and Ian Walker at ian.walker@wsj.com

http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/telecoms/11729323/BT-urges-Ofcom-to-investigate-Skys-grip-on-TV-market.html

http://www.moneyam.com/action/news/showArticle?id=5083521

Adam Crozier, ITV plc Chief Executive, said:

"ITV made further strong progress in the first half of the year as we continued to grow and rebalance the company creatively and commercially. All parts of the business performed well with external revenue up 11% to £1.36bn and we delivered another period of double digit profit growth up 24% to £400m.

We continue to grow non advertising revenue with Online, Pay & Interactive revenue up 27% and ITV Studios revenue up 23%, driven by organic growth and through our acquired businesses.

More than half of ITV Studios revenue now comes from outside the UK and we further reinforced our position as a leading international producer with the acquisition of Talpa Media. We have also continued to strengthen our UK studios business with the acquisitions of Mammoth Screen and Twofour Group.

Our Broadcast & Online business remains strong with profit up 26% to £315m and revenue up 6% to £1.04bn, helped by 5% growth in advertising revenue and the launch of our pay channel ITV Encore.

ITV Family share of viewing was down 4% in H1 and improving SOV remains a key focus for the year. As previously stated we expect to see improvements in H2 when we have exclusive rights to the Rugby World Cup as well as a strong slate of high quality drama including Jekyll & Hyde, Unforgotten and The Trials of Jimmy Rose.

Looking ahead to 2016 we have now secured the joint rights to Six Nations Rugby to add to our strong schedule of sport, drama and entertainment including the European Football Championships, Beowulf, Britain's Got Talent and Seth MacFarlane's Family Guy and American Dad.

Our outlook for the remainder of this year is unchanged and we expect to deliver another strong performance in 2015."

28 Jul Investec N/A Hold
28 Jul Numis 300.00 Add

29 Jul Nomura 285.00 Buy
29 Jul Deutsche Bank 220.00 Sell
29 Jul Barclays... 270.00 Equal weight
29 Jul JP Morgan... 312.00 Overweight

Short term target 281p

Billionaire John Malone’s Liberty Global Plc increased its stake in U.K. broadcaster ITV Plc to just under 10 percent.

London-based Liberty Global acquired 138.7 million ITV shares, taking its holding to 9.9 percent, it said in a statement Friday. No financial details are given. At market price, the additional stake has a value of about 380 million pounds ($593 million). Liberty Global said it has no plans to make a full takeover offer.

“This investment remains an opportunistic one for us in our largest market,” Liberty Global Chief Executive Officer Mike Fries said in the statement.

Liberty Global said it had entered into a hedging transaction at the same time over the ITV shares and obtained further financing from its hedge counterparty. The deal would “result in net cash being released to Liberty Global,” it said.

Sold @ 281