Back to previous section

ITV sells stake in BritBox International to BBC Studios for £255m

ITV said on Friday that it has sold its entire 50% stake in streaming service BritBox International to its joint venture partner BBC Studios for £255m in cash.

  • ITV
  • 01 March 2024 07:55:51
ITV

Source: Sharecast

The broadcaster said net proceeds of around £235m will be returned to shareholders through a share buyback which it expects to launch imminently after the full-year results on 7 March.

ITV said the sale reflects its strategy "of focusing on supercharging its UK advertiser-funded streaming service, ITVX and growing its global Studios division".

Under the terms of the agreement, ITV Studios will continue to receive an ongoing revenue stream from BritBox International similar to current levels for the use of ITV content under new extended licensing agreements.

BritBox UK is unaffected and will still feature BBC content as part of separate long-term agreements.

Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown, said: "The move cements what has been a disappointing BritBox journey for the group. The decision will help to streamline ITV’s focus as it continues with efforts to offset the structural decline in broadcast with its ad-funded streaming service, ITVX and the Studios business.

"There are a lot of the right ideas circulating, and this cash injection will help steady the ship, but there isn’t quite enough proof in this pudding yet."

FTSE 250 ( MCX )

Isin: N/A
Exchange: London Stock Exchange
Sell:
0.00
Buy:
0.00
Change: 110.69 ( 0.52 %)
Date:
Prices delayed by at least 15 minutes

Compare our accounts

If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.

View our accounts

Bank of Scotland is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.

Important legal information

Bank of Scotland Share Dealing Service is operated by Halifax Share Dealing Limited. Halifax Share Dealing Limited. Registered in England and Wales No. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire HX1 2RG. Authorised and regulated by the Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN under number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.

Logo Allfunds

The information contained within this website is provided by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd unless otherwise stated. The information is not intended to be advice or a recommendation to buy, sell or hold any of the shares, companies or investment vehicles mentioned, nor is it information meant to be a research recommendation. This is a solution powered by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd incorporating their prices, data news, charts, fundamentals and investor tools on this site. Terms and conditions apply. Prices and trades are provided by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd and are delayed by at least 15 minutes.

FE fundinfo Logo

Data provided by FE fundinfo. Care has been taken to ensure that the information is correct, but FE fundinfo neither warrants, represents nor guarantees the contents of information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Past performance does not predict future performance, it should not be the main or sole reason for making an investment decision. The value of investments and any income from them can fall as well as rise.

Refinitiv Logo

© 2025 Refinitiv, an LSEG business. All rights reserved.