RPT-MNI INTERVIEW: Fed To Look Through Price Bumps-Shelton

MNI China Daily Summary: Tuesday, February 11

MNI BRIEF: China To Boost Passenger Train Services

MNI BRIEF: China SME Index Up In January

MNI: PBOC Net Injects CNY33 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1716 Tues; -1.53% Y/Y

US NFIB JAN SMALL BUSINESS INDEX 102.8

MNI: NORWAY Q4 MAINLAND GDP -0.4% Q/Q

MNI: UK BRC JAN BY VALUE SHOP SALES LFL +2.5% YY, TOTAL +2.6% YY

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

COMMUNICATIONS: FT Writes On ITV Studios Merger; Not A Mover

COMMUNICATIONS
Credit BulletsUKCEEMEABullet

ITVLN 

  • FT adding to speculation on an ITV Studios/All3Media merger over the weekend, in line with recent media reports.
  • Nothing materially new on that front (“a deal with RedBird IMI was still seen as a more likely option”) though the article notes “a number of other potential suitors…including private equity groups CVC and Blackstone. Rivals such as Banijay, one of Europe’s largest production groups, were also monitoring the situation, two people said.”
  • A top 10 shareholder stated they support “a transaction involving the studios business, such as selling all or part of the business, or a joint venture, adding that ITV could use the proceeds to buy back shares.”
  • Reminder that we don’t see the deal triggering an EoD based on the permitted restructuring language whereby cessation of business by a principal subsidiary (e.g. ITV Studios) does not trigger an EoD if Broadcasting remains with the issuer. Regardless the bonds trade near par.
150 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

ITVLN 

  • FT adding to speculation on an ITV Studios/All3Media merger over the weekend, in line with recent media reports.
  • Nothing materially new on that front (“a deal with RedBird IMI was still seen as a more likely option”) though the article notes “a number of other potential suitors…including private equity groups CVC and Blackstone. Rivals such as Banijay, one of Europe’s largest production groups, were also monitoring the situation, two people said.”
  • A top 10 shareholder stated they support “a transaction involving the studios business, such as selling all or part of the business, or a joint venture, adding that ITV could use the proceeds to buy back shares.”
  • Reminder that we don’t see the deal triggering an EoD based on the permitted restructuring language whereby cessation of business by a principal subsidiary (e.g. ITV Studios) does not trigger an EoD if Broadcasting remains with the issuer. Regardless the bonds trade near par.