ITV 'rules out bidding for Shameless producer'
Friday, May 20 2011, 15:16 BST
By Andrew Laughlin,
ITV has reportedly ruled out making a long-rumoured acquisition of Shameless and Midsomer Murders producer All3Media.
The commercial broadcaster was widely speculated to be readying a bid for All3Media, after its owner, private equity Permira, asked for expressions of interest earlier this week.
It was thought that ITV chief executive Adam Crozier wanted to acquire the company as part of plans to introduce "creative renewal" at production arm ITV Studios.
However, a source close to the £650m auction of All3Media said yesterday that ITV has decided against lodging a bid, according to Sky News city editor Mark Kleinman.
Writing on his blog, Kleinman said that ITV has ruled out the move as it would prefer a production business with a stronger international presence.
ITV Studios actually saw its external revenue rise by 7% to £64m in the first quarter of 2011, but the division's internal revenue - drawn from UK sales and commissions - fell to £68m from £73m at the same time last year.
Sources close to the auction also said that Permira was happy with the interest shown in All3Media, including trade bidders and private equity firms.
ITV and Permira declined to comment.