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ITV PLC is interested in launching a bid for soon-to-be privatised UK broadcaster Channel 4, the Telegraph reported on Tuesday.
The Telegraph reported ITV has told ministers it would be interested in making an offer for Channel 4, which has an estimated price tag of £1 billion. Channel 4 is to be privatised by 2024.
ITV has turned to Credit Suisse and Robey Warshaw as advisers. No bid has been made yet.
The Telegraph noted ITV could face competition from elsewhere. Sky, Discovery Inc and Paramount Global, which already owns Channel 5 in the UK, could all be interested.
https://www.telegraph.co.uk/business/2022/04/05/itv-poised-launch-bid-channel-4/?WT.mc_id=e_DM1537&WT.tsrc=email&etype=Edi_Cit_New_v2&utmsource=email&utm_medium=Edi_Cit_New_v220220406&utm_campaign=DM1537
The potential bid from the FTSE 100 constituent comes amid a backdrop of scrutiny on UK government plans to privatise Channel 4.
Channel 4 has said it is ‘disappointed’ at the UK government's decision to proceed with plans to privatise the broadcaster without ‘formally recognising the significant public interest concerns which have been raised’.
The government, which currently owns the channel, has been consulting on whether to privatise the broadcaster following concerns for its survival in the streaming era.
ITV shares were 1.6% lower at 80.66 pence each in London on Wednesday morning.
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