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ITV plc notes the recent media speculation and confirms that it is actively exploring the possible acquisition of All3Media.
There can be no certainty as to whether any transaction will take place, nor as to the terms of any such transaction.
A further announcement will be made if and when appropriate.
Further to its announcement on 16 June 2023, ITV plc confirms it continues to monitor but is no longer actively exploring the possible acquisition of All3Media.
ITV plc assesses all potential value-creating M&A opportunities against its strict financial criteria and disciplined capital allocation framework.
The person responsible for arranging the release of this announcement on behalf of ITV plc is Kyla Mullins, General Counsel and Company Secretary of ITV plc.
A copy of this announcement is also available on ITV's website at http://www.itvplc.com.
ITV today announces its latest Media for Equity investment in plant-based meat business THIS™, its first investment in a food company.
As part of ITV Adventures Invest, its Media for Equity investment fund, ITV has agreed to subscribe for £1.5 million of shares in Plant Meat Limited, with the option to subscribe for two additional tranches of £1.5 million each, in return for advertising inventory across ITV's channels and ITVX.
UK's fastest-growing food company*, THIS™ was founded in June 2019 by ex-meat fanatics Andy Shovel and Pete Sharman as a plant-based food brand for meat-lovers. Following two years of extensive research and development with a team of world-leading food scientists and flavourists, they created hyper-realistic meat alternatives. Its award-winning pork, beef and chicken products are available nationwide at major supermarkets, restaurants and cafes. The range is specifically designed to replicate the taste and texture of popular meat products, including pork sausages, beef burgers, chicken and bacon.
ITV plc ("ITV" or the "Company") notes the announcement made today by the UK Competition and Markets Authority ("CMA") that it has opened an investigation into suspected breaches of competition law in relation to the purchase of freelance services and the employment of staff supporting the production, creation and/or broadcasting of television content in the UK, excluding sport content.
ITV confirms that together with other organisations it has received a case initiation notice from the CMA.
ITV is committed to complying with competition law and to cooperating with the CMA's inquiries. ITV does not propose to comment further at this stage.
ITV plc has today announced that it has sold its entire 50% interest in digital subscription streaming service BritBox International to its joint venture partner BBC Studios for a cash consideration of £255 million. The transaction will provide net proceeds including loan repayments and accrued dividends and after tax of around £235 million.
ITV plc ("ITV" or the "Company") today announces that it will commence a programme to purchase ordinary shares of 10 pence each in the capital of the Company (the "Shares") up to a maximum consideration of £235 million (the "Programme"). This follows on from an earlier announcement of the Company's intention to commence a share buyback programme made by the Company on 1 March 2024.
Strong strategic execution driving robust financial and operating performance, despite challenging macroeconomic environment
● Significant progress against ITV's three strategic pillars
● ITV Studios delivered record revenues and profits
● ITVX delivered strong growth in digital viewing and revenues
● 2026 KPI targets on track
Carolyn McCall, ITV Chief Executive, said:
"In 2023 we saw the benefit of the actions we have taken to reposition ITV towards higher sustainable growth. Our Studios business recorded the highest ever revenues and profits and in its first year ITVX delivered strong growth in viewing and digital revenue with investment on plan. This growth in production and streaming substantially offset the challenging linear TV advertising market conditions.
"We remain confident in delivering our KPI targets, and are making good progress towards these - most notably ITV Studios organic revenue growth of 5% on average per annum between 2021 and 2026 at a margin of 13 to 15% and to deliver at least £750 million of digital revenues by 2026.
"We remain firmly committed to creating shareholder value and applying a disciplined approach to capital allocation. As announced on 1 March 2024, we will return the entire net proceeds of the sale of BritBox International through a share buyback of £235 million and the Board has proposed a final dividend of 3.3p giving an ordinary dividend of 5.0p per share or c.£200 million, for the full year....
And later;
Dividends
The Board recognises the importance of the ordinary dividend to ITV shareholders. Reflecting its confidence in the business and its strategy, as well as the continued strong cash generation, the Board proposes a final dividend of 3.3p (2022:3.3p), giving a full year dividend of 5.0p (2022: 5.0p) per share. In 2023, £201 million of dividends were paid (2022: £201 million), representing a final 2022 dividend of 3.3p per share and an interim 2023 dividend of 1.7p per share.
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