Buckle Up7 Nov 2025 07:35
So the main Q: how do people feel about being left as owners of just a studios business?
We’ve talked on here for ages about a potential full or partial sale of ITV Studios leaving us the other way round holding broadcast - which most agreed wouldn’t be great but at least we’d unlock some value. I don’t think anybody ever suggested the broadcast bit would sell first.
I wonder things like how would the ITV Group debt be split between the 2 parts?
How would our dividends be impacted? Broadcast is a cash cow. We would need continued success from content distribution. Would we still sell content back to the old part? Maybe that would be agreed in the terms for x years; at present it’s just called ‘internal revenue’.
Simplistically what would the parts be called? Would Comcast come up with something like, let’s just say SkyX (!) leaving us owning ITV Studios PLC?
Or would they keep using ITVX and our investment goes forward in some new name like XYZ Studios PLC. Trival but interesting to think about!
How will be use the funds raided? Does £1.6bn allow us to buy another big studio and keep growing?
Does being a distinct studios play put a huge target on our back so we just get swept up by an entity that never wanted to deal with the broadcast side? And is that infact already being discussed behind closed doors - ie Comcast is phase 1 of a wider plan?
And finally regarding the open today. Does ITV.L finally, finally after so so long get a rocket up its ar$e firework style? Or will it be another mute reaction…
What we really need is a short squeeze - with market participants finally accepting a shift in sentiment and desperate to buy to close at the same time as others are piling in anyway.
Exciting times. And so soon after the dark days of 68p. Good luck all, and buckle up!
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