All3Media owners kick off sale process -sources

Liberty Global

15/09/2023 20:32

By Amy-Jo Crowley
       LONDON, Sept 15 (Reuters) - The owners of All3Media have
formally kicked off a sale process for the British television
production company, five people familiar with the matter told
Reuters.
    Shareholders Liberty Global Plc  LBTYA.O  and Warner Bros
Discovery  WBD.O  have shared information with prospective
buyers of the "Fleabag" and "The Traitors" maker this week
following expressions of interest over the summer, the people
said, speaking on condition of anonymity.
    Management presentations are being held next week, two of
the people added.
    All3Media did not immediately reply to requests for comment.
    The company could be valued at around 1 billion pounds 
($1.24 billion), according to previous reports by Reuters.
    The sale of Britain's largest TV and film production company
has been flagged for months.   
    Among those following the sale is ITV  ITV.L , two of the
sources said. The broadcaster, which is 10% owned by Liberty
Global, pulled out of talks to buy All3Media in July.
    ITV declined to comment but referred to its July 6
statement, in which it said it would continue to "monitor" a
possible acquisition of All3Media.
    Others tracking the process are Blackstone Group, people
with knowledge of the situation said, while other interested
parties include the North Road Company, formed by Hollywood
veteran Peter Chernin, two of them said. Providence Equity
Partners, a shareholder of North Road, declined to comment.
    Warner Bros Discovery and Liberty Global bought All3Media in
2014 for an enterprise value of about 550 million pounds.
    Britain is responsible for 35% of its revenue, with the
remainder coming from North America, Germany, the Netherlands,
New Zealand and elsewhere, according to All3Media's reports. 

($1 = 0.8076 pounds)

 (Reporting by Amy-Jo Crowley, editing by Anousha Sakoui and
Rosalba O'Brien)
 ((Amy-Jo.Crowley@thomsonreuters.com;))