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ITV in talks over £640m production firm buyout deal

By Roger Baird

ITV is reportedly in talks to buy the TV division of the Weinstein Company, the Hollywood production house behind The Imitation Game and The King's Speech, for as much as $950m (£640m).

If completed, the unit would be sold with an upfront fee of up to $400m (£270m), with the rest made up of performance-linked payments.

The Weinstein Company is led by brothers and co-chairmen Harvey and Bob Weinstein. The TV unit has produced the designer reality show Project Runway as well as Mob Wives.

An acquisition by ITV, home to Downton Abbey and The X Factor, would fit in with its strategy of buying production firms to sell content around the world, making itself less dependent on volatile advertising revenues. Last month ITV snapped up Talpa, the Dutch production company behind The Voice, in a deal that could cost up to €1.1bn (£781m).

It has also bought a number of US production companies.

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