ITV and BBC in talks over UKTV joint venture

ITV could enter a £1bn joint venture with BBC to run broadcaster UKTV.

The Telegraph reported that the pair were in discussions over the sale of half of Dave-owner UKTV which is valued at £1bn.

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The BBC owns half of UKTV in partnership with US company Discovery.

According to the report the BBC has the right to buy out Discovery's interest in the business and is considering a plan to buy its share and sell it on to ITV.

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Although the BBC and ITV are longstanding rivals, the move would be part of a strategy to combat the threat of US streaming services such as Netflix which have grown very quickly in recent years.

Discovery is also reportedly working on its own plans for the breakup of UKTV which has included an unsuccessful approach to Sky.

The BBC and ITV declined to comment.




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