It’s on the Betaville site too now.
One cool fact we learn there - the Betaville guy says that he actually worked for Dealreporter once! For me that legitimises the source even further - it’s not just a make pretend website. Small world investment eh?!
“Mark, The Kleinmanator, Kleinman of Sky News was on point when he wrote in his City AM column late last month that "reheated repeats" of his scoop about CVC's potential attempt to purchase London-listed broadcaster ITV "will be commonplace".
On Friday, Dealreporter - one of little old Betaville's first employers - reported that European private equity CVC has now sounded out Sony and Italian group MediaforEurope, formerly known as Mediaset, about carrying out a joint bid for ITV.
According to the report, talks were held in recent weeks but deliberations are still at an early stage.”
Good site with free signup: |
Ben Harrington at Betaville has tweeted re the Dealreporter artical |
It does look like there could be something in this bid speculation, first with Sky less than a month ago and now Dealreporter on Friday, both report the same company behind the rumour. Private equity firm CVC Capital Partners. Unless its one hell of a coincidence. |
Interesting comment in Reddit mediamergers discussion
Ares123893 - “Amazon MGM Studios has the North American distribution rights to The Rank Organisation film (1935-1996) library, which is owned by ITV Studios. If Sony buys ITV Studios, then Sony owns the entire Rank Organisation libraries and MGM is totally screwed BIG TIME!” |
One analyst last month gave his valuation of around 130p per share. Based on where the share price currently trades at 72p up only 10p from before the rumours started last month. I would say that the market is dismissing these rumours. As we know markets don't always get things right, here's hoping. |
 Oh no, not more bid talk.
Here's a bit from last month's FT that mentions ITV's 10% holder the pirate John Malone.
FT.COM
John Malone, the pre-eminent dealmaker in the media and technology industry, is pressing for merger activity amid an anticipated rollback of regulations under the incoming administration of Donald Trump.
Charter Communications, the cable television and broadband company that has just agreed to buy his Liberty Broadband, should be allowed to merge with rival cable operators Comcast, Cox or T-Mobile, the billionaire “cable cowboy” told investors on Thursday.
“The idea that Charter should be limited to 30 per cent of the US terrestrial footprint while Big Tech has the globe, and even Elon [Musk] has the globe, is silly,” the Liberty Media chair said. “Tying an industry’s hands behind its back and allowing Big Tech to run wild in every direction that they choose to run in, I think is inappropriate.”;
Malone’s pronouncement comes as mass media companies have struggled for years due to the disruption of linear television. Companies such as Warner Brothers Discovery have lost a huge share of their business to streaming services, leading to billions in writedowns and attempted mergers, like satellite TV provider DirectTV’s now-abandoned purchase of Dish.
Trump’s anticipated dismissal of Federal Trade Commission chair Lina Khan and Department of Justice chief Jonathan Kanter has spurred hopes among media executives grappling with deflated share prices that tie-ups may escape harsh antitrust scrutiny. This is despite indications that the new White House administration is likely to continue strict enforcement of media deals.
David Zaslav, WBD’s chief executive, said earlier this month the new administration might offer a “change of pace” and an opportunity for a wave of consolidation.
Malone’s comments came a day after he announced he would simplify his media empire by spinning off event ticketing company Live Nation and events specialist Quint from Liberty Media into a separate public company following a wave of legacy media companies looking to clean up their corporate structure amid a wave of anticipated dealmaking.
Last month, broadcaster Comcast said it was weighing a spinout of its cable networks.
The remaining Liberty Media will focus on sports, following its $8bn acquisition of Formula One in 2017. The 83-year-old Malone will step in as interim CEO after the departure of prolific dealmaker Greg Maffei, who said he would step down as CEO after nearly 20 years at the helm. |
It's interesting to suddenly see all the posts and clips that ITV are a target for whatever predator with the most money. I hope some of it is based on fact.
I don't know what sort of value they will put on it, I would guess 110p to 120p as a starter, question is will there be more than one bidder. Early days yet, but there would seem a good 50/50 chance that the ITV rumours are based on facts.
We will find out in the next few months. |
Sony and Apple have been brothers in arms for years and for those who pooh pooh my posts there is nothing new here. Apple are favourite to get ITV whatever the rumour mill is saying. |
Value shares?
ITV PE ratio 6.5
Dividend Yield 7%
Takeover rumours all over the place. |
Loginname, thanks for posting the news link. Interesting times ahead I hope for ITV, |
Also a DR morning flash at 8am NY is 1pm for you Brits. There’s your spike explained.
Hans |
Maybe Sony want to rebrand ITVX and make it their embedded PlayStation TV & Film content platform? It’s already working fine on PS5 they just need to break off the uk based subscription model and then include it globally in PS Plus subscriptions instead - then keep adding content. No development costs. Instant win? But they would need to walk away with more than just ITV Studios from the breakup as ITVX is part of the media division I think. |
Can confirm Dealreporter break a lot of corporate stories. They’re based in NY.
If true i think US and prob some Euro stakeholders won’t want Sony to get this important studio.
We might have ourselves a good ol’ fashion bidding war next year boys! Popcorn at the ready.
To the Moon!
Hans |
IF
CVC do the brteakup, they will want 35%+ of the spoils so.................their offer will reflect that. |
Well, well, well. Thanks for the link, loginname. Maybe Santa will be bringing us a present after all. Be good, boys and girls - you never know... |
CVC UPDATE!
Reports Friday in discussion with SONY over ITV Studios
Dealreporter seems like a legit outfit |
Matthew, a large move in share price caused by a small share purchase was designed to take out stops. If you think it doesn't happen then you're in cloud cuckoo land. |
Shorts are squared off in the run up to the new year due to nothing more than position squaring for year end. They are put back out come Jan 1st. Take nothing from it. |
Davius. With the greatest of respect , 2008 was the GFC and you’re talking about a bank. What happened then is a million miles away from today and more relevantly what could happen to today with (over) compliance. Not comparable. |
So roughly £40m left in the tank. |
Another 4.25 million shares bought back today (average price 71.85p) against a great deal of activity in the ITV shares. |
Big volume at 34m. Though it was triple witching options expiry today. Perhaps that is behind the spike to 76p earlier..? |
How's your holding in Assura Group working out Idiot? |
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