Rumours Fly Over Fresh ITV Takeover Approach

Reports this morning claim commercial giant ITV has received an approach from a consortium of investors willing to pump £1.5 billion into the firm, effectively gaining control of the broadcaster.

A report in today’s Telegraph claims the approach by Goldman Sachs Capital Partners and Apax Partners would see ITV “gear itself up,” returning around three quarters of its current market value to investors, with as much as 86p per share, or £3.55 billion being earned.

Existing shareholders would reportedly be allowed to co-invest alongside Goldman Sachs and Apax, with ITV remaining a public limited company.

The fresh rumours of an effective ITV takeover also revive murmurs of involvement by former BBC director general Greg Dyke, who was linked to an approach to ITV by Apax last year (see Greg Dyke Implicated In ITV Bid Speculation).

Dyke is currently an adviser to Apax, with several reports in recent years suggesting he was being groomed for the top spot at ITV, following a financial approach by the investment firm (see Dyke Joins Apax Amid Rumours Of Potential ITV Bid).

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