RedBird IMI in talks to buy UK's All3Media in $1.3 bln deal -FT (updated)

Liberty Global

12/12/2023 11:35

(Adds background and details in paragraph 2-4)
       Dec 12 (Reuters) - Investment group RedBird IMI is in
advanced talks to buy UK film and TV production firm All3Media
in a deal worth about 1 billion pounds ($1.26 billion), the
Financial Times reported on Tuesday, citing people familiar with
the matter. 
    The company, behind hit shows such as "Fleabag" and
"Midsomer Murders," is owned jointly by Warner Bros Discovery
 WBD.O  and Liberty Global  LBTYA.O . It reported its best ever
year in 2022, with revenue topping $1 billion. 
        The deal may enter exclusive negotiations before
Christmas and other groups are still interested, according to
the report. 
  
        RedBird IMI is led by former CNN executive Jeff Zucker
and backed by Mansour bin Zayed Al Nahyan, a member of the
ruling family of Abu Dhabi and the owner of soccer club
Manchester City. 
  
        Warner Bros Discovery, RedBird IMI and All3Media did not
immediately respond to Reuters' requests for comment. 
        
  

($1 = 0.7954 pounds)

 (Reporting by Eva Mathews in Bengaluru; Editing by Mrigank
Dhaniwala and Anil D'Silva)
 ((Eva.Mathews@thomsonreuters.com;))