ITV may buy to boost its studios arm

first_imgMonday 28 March 2011 12:28 am ITV may buy to boost its studios arm KCS-content Show Comments ▼ ITV may grow its struggling studios division through acquisitions, according to its chief executive Adam Crozier.The broadcaster is desperate to strengthen the division to provide a revenue stream that is less volatile than advertising income.A bounce-back in the ad market trebled ITV’s pre-tax profits to £321m last year.However, it saw a steep fall in profits at its studio division, which slid 11 per cent to £81m, with revenues dropping 12.5 per cent to £293m.This has led analysts to question how susceptible ITV may be to a second economic downturn. Crozier sees a bolstered studios division as a key growth area, allowing ITV to export programming abroad and cushion against a drop in advertising.A number of high profile independent production firms have been mooted as possible targets, although sources close to ITV have distanced themselves from any imminent bids.A glut of ITV executives have left the firm to start production companies and these firms top the list of likely acquisitions. These include:• Mammoth Screen, the firm run by former ITV executives Michele Buck and Damien Timmer, which produces shows including Wuthering Heights.• Left Bank Pictures, set up by ITV-man Andy Harries, which produces Wallander.• All3Media, the so-called “super-indie” behind shows such as Midsomer Murders, which is run by former ITV bosses including Steve Morrison, David Liddiment, Jules Burns and Wayne Garvie.• Gallowgate, the Ant and Dec production vehicle with strong ties to ITV.• RTL-owned TalkbackThames, the production arm of X-Factor maker Freemantle, although it is questionable whether ITV could afford it. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was Famous, Now She Works In {State}MoneyPailUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndoDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndo Sharecenter_img Tags: NULL whatsapp More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this whatsapplast_img

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