ITV (ITV)

Sector:

Media

Index:

FTSE 250

75.70p
   
  • Change Today:
    -0.30p
  • 52 Week High: 79.60p
  • 52 Week Low: 55.78p
  • Currency: UK Pounds
  • Shares Issued: 3,995.22m
  • Volume: 7,230,177
  • Market Cap: £3,024.38m
  • RiskGrade: 188

ITV acquires controlling stake in Plimsoll Productions

By Iain Gilbert

Date: Tuesday 14 Jun 2022

LONDON (ShareCast) - (Sharecast News) - British television network operator ITV has agreed to acquire a majority interest of 79.5% in Plimsoll Productions, the largest independent producer of natural history programmes in the world.
ITV said on Tuesday that it will make a cash consideration of approximately £103.5m for Plimsoll, valuing the Bristol-based business at an enterprise value of £131.0m.

The FTSE 100-listed firm stated the acquisition was "a further milestone" in its strategy of expanding its international content business, adding that it would further diversify ITV Studios' production base and enable the group to take advantage of the "strong demand" for content across the "ever-popular" natural history and factual genres.

Plimsoll generated underlying earnings of £10.0m in the 12 months to 31 August 2021 and was forecast to deliver EBITDA of around £5.5m in the second half of 2022. The transaction was also expected to be earnings accretive from day one.

The outstanding 20.5% of share capital will be held by founder Grant Mansfield and other members of the management team and strategic investors of Plimsoll. However, ITV noted there were call and put arrangements in place that will give it the option of acquiring the outstanding shares.

ITV chief executive Carolyn McCall said: "Growing ITV Studios with an exciting pipeline of premium programmes is core to our strategy as we further diversify the business by genre, by geography, by customer and grow ahead of the market.

"Through Plimsoll Productions, as a Studio, we can continue to capitalise on the growing demand for natural history and factual programming and I am really pleased to welcome Grant and the team."

As of 0835 BST, ITV shares were up 1.99% at 68.72p.



Reporting by Iain Gilbert at Sharecast.com

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

ITV Market Data

Currency UK Pounds
Share Price 75.70p
Change Today -0.30p
% Change -0.39 %
52 Week High 79.60p
52 Week Low 55.78p
Volume 7,230,177
Shares Issued 3,995.22m
Market Cap £3,024.38m
RiskGrade 188

ITV Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
90.79% above the market average90.79% above the market average90.79% above the market average90.79% above the market average90.79% above the market average
91.11% above the sector average91.11% above the sector average91.11% above the sector average91.11% above the sector average91.11% above the sector average
Price Trend
62.25% above the market average62.25% above the market average62.25% above the market average62.25% above the market average62.25% above the market average
23.40% above the sector average23.40% above the sector average23.40% above the sector average23.40% above the sector average23.40% above the sector average
Income
90.42% above the market average90.42% above the market average90.42% above the market average90.42% above the market average90.42% above the market average
89.47% above the sector average89.47% above the sector average89.47% above the sector average89.47% above the sector average89.47% above the sector average
Growth
93.71% below the market average93.71% below the market average93.71% below the market average93.71% below the market average93.71% below the market average
86.05% below the sector average86.05% below the sector average86.05% below the sector average86.05% below the sector average86.05% below the sector average

What The Brokers Say

Strong Buy 3
Buy 2
Neutral 5
Sell 1
Strong Sell 0
Total 11
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

ITV Dividends

  Latest Previous
  Final Interim
Ex-Div 11-Apr-24 19-Oct-23
Paid 23-May-24 28-Nov-23
Amount 3.30p 1.70p

Trades for 14-Jun-2024

Time Volume / Share Price
16:35 87,437 @ 75.70p
16:35 2,577,893 @ 75.70p
16:35 4,882 @ 75.70p
16:35 40,976 @ 75.70p
16:35 13,433 @ 75.70p

ITV Key Personnel

CEO Carolyn McCall

Top of Page