Hollywood's Chernin, France's FL Entertainment in talks over ITV Studios - report

Veteran Hollywood producer Peter Chernin and French TV production group FL Entertainment have reportedly expressed interest in UK broadcaster ITV’s Studios.

Reuters cited sources familiar with the matter as saying that other private equity-backed studios firms have also assessed the asset on and off in recent months. The business has been valued at as much as £3bn, according to analysts.

Sources told Reuters that ITV is open to selling a minority stake in Studios to a strategic partner such as a larger TV producer or private equity firm with production assets, but wants to retain majority control.

Both Chernin’s co-production vehicle North Road and Banijay-parent FL Entertainment would prefer to control the business, which has been a stumbling block in a potential deal, Reuters said.

The sources said talks with interested parties have been ongoing in recent months, although no formal process was under way and banks have not been officially appointed to advise.

At 1515 GMT, ITV shares were up 2.2% at 82.70p.

ITV declined to comment on the Reuters report.