The ITV All3Media merger talks are progressing, with plans to create a £3bn British TV production powerhouse. If successful, the deal would result in a new company listed on the London Stock Exchange, giving a much-needed boost to the UK’s creative industries and stock market.
Merger Plans: What’s on the Table?
ITV’s chief executive Carolyn McCall has been in discussions with RedBird IMI, the Emirati-backed fund that owns All3Media, led by Jeff Zucker, former CNN boss.
All3Media, known for hit shows like Gogglebox, Call The Midwife, and The Traitors, was previously on ITV’s acquisition radar two years ago. However, ITV lost out to RedBird IMI, which secured the company for £1.15bn.
This time, the proposed deal would involve ITV spinning off its ITV Studios division—which produces Love Island, The Voice, and Mr Bates Vs The Post Office—and merging it with All3Media. The newly formed production company would then be publicly listed in London, while ITV’s broadcasting and streaming division would remain a separate entity.
Why This Deal Matters
A successful merger would make the new entity one of Europe’s largest TV production companies. With a growing global demand for high-quality TV content, this deal could put ITV at the forefront of the entertainment industry.
- ITV Studios generated a record £299m profit last year.
- All3Media reported £995m in revenue and £107m in profit in 2023.
For ITV, the move aligns with McCall’s strategy to unlock shareholder value. ITV’s share price has struggled due to declining linear TV advertising and economic uncertainty, despite strong performance from its studios and streaming businesses.
A Boost for the London Stock Market
If the ITV All3Media merger results in a London stock market listing, it would be a major win for the UK’s financial hub. Recent years have seen multiple UK companies shift their listings to the US, weakening London’s global financial standing.
McCall, a vocal advocate for strong UK capital markets, is reportedly prioritising a London IPO for the new entity.
What’s Next?
While a deal is far from certain, ITV is under pressure to capitalise on its production business. Given the success of global content streaming platforms, this merger could position ITV and All3Media as a dominant force in TV production.
If approved, the deal could reshape the UK’s media landscape, ensuring that British TV content remains competitive on the global stage.
