ITV in talks to buy US division

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 £640m.

By The Newsroom

Published 7th Apr 2015, 14:54 BST

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 950 million US dollars

If completed the unit would be sold with an upfront fee of up to £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.

An acquisition by ITV 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.

ITV Hollywood