ITV withdraws proposal to acquire Entertainment One Ltd
Further to the announcement made by ITV plc ("ITV") on 10th August 2016, ITV announces that it has withdrawn its proposal to acquire Entertainment One Ltd ("eOne").
ITV continues to believe in the strategic logic and potential benefits of acquiring eOne but has a clear view of the value of the business, recognising that this value would need to be verified by appropriate due diligence. It appears this value is different to the level at which the Board of eOne would currently engage in a more formal process.
ITV has a clear strategy to build a stronger, more diversified international business and will continue its disciplined approach to evaluating its healthy pipeline of potential investment opportunities.
Further information on ITV
ITV (LSE:ITV, www.itvplc.com) is an integrated producer broadcaster, operating the largest commercial family of channels in the UK. In addition to traditional broadcasting, ITV delivers content on demand through numerous platforms, both directly and via the ITV Hub. ITV Studios produces content for both ITV's own channels and third parties in the UK and increasingly overseas. ITV's distribution business sells finished programmes and formats worldwide.
For further information on ITV, please go to www.itvplc.com/about/what-we-do
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Forward looking statements
This press release contains statements which are not based on current or historical fact and which are forward looking in nature. These forward looking statements reflect knowledge and information available at the date of preparation of this press release and ITV undertakes no obligation to update these forward looking statements. Such forward looking statements are subject to known and unknown risks and uncertainties facing ITV including, without limitation, those risks described in this press release, and other unknown future events and circumstances which can cause results and developments to differ materially from those anticipated. Nothing in this press release should be construed as a profit forecast.