ITV Chief Downplays Studio Sale Speculation While Highlighting Digital Growth

variety.com:

Naman Ramachandran In a measured earnings call that revealed ITV‘s strategic pivot toward digital revenue streams, chief executive Carolyn McCall sidestepped persistent questions about potential deals for ITV Studios while underlining the British broadcaster’s successful transformation efforts. “We won’t comment on any speculation,” McCall stated firmly when asked about rumors of RedBird IMI’s All3Media merging with ITV Studios. “There’s speculation about Banijay and Fremantle, there’s speculation about all studios businesses.” The earnings call followed ITV group reporting an 11% increase in group adjusted EBITA (earnings before interest, taxes, and amortization) to £542 million ($700 million), driven by record profits at ITV Studios and growth in its Media & Entertainment division.

The executive highlighted ITV Studios’ organic growth trajectory, noting that the division has expanded by approximately 35% since 2018. “We’ve bought really good labels.

We’ve just brought in a whole load of talent since about 2020, and it’s really, really paying off as a strategy,” McCall said. “Really no comment on anything to do with the speculation, but you can see how well the business has done.” When pressed on whether ITV’s current integrated structure of broadcasting and production made sense moving forward, McCall acknowledged the benefits while keeping options open. “There are definite merits to being integrated,” she stated, highlighting that ITV labels value the opportunity to debut shows on ITV channels, aiding in talent retention.

However, she added, “Every board everywhere has to keep all options open, and our board is no different to that. We review everything and we review it regularly.” The call revealed ITV’s ongoing.