Merger speculation as NTL holds ‘combination’ talks with ITV

NTL has confirmed that it has scheduled an “initial conversation” with ITV to explore a possible “combination transaction”. It follows speculation earlier today that the cable operator, set to rebrand as Virgin Media next year, was considering a “friendly takeover” of the broadcaster.

Virgin%20mediaNTL has confirmed that it has scheduled an "initial conversation" with ITV to explore a possible "combination transaction". It follows speculation earlier today that the cable operator was considering a "friendly takeover" of the broadcaster.

Yesterday (Wednesday November 8), NTL announced it would rebrand early next year as Virgin Media, following the merger of NTL and Telewest and its subsequent acquisition of Virgin Mobile (MW September 21).

NTL’s share price is stronger than ITV’s, currently standing at just over $27 (£14.20). Both ITV and NTL have been the subject of rumours of private equity bids over the summer.

Analysts have pointed to ITV’s continuing woes as its flagship channel ITV1 suffers from falling advertising revenue and audience share. The broadcaster has also been searching for a chief executive since Charles Allen announced his departure in the summer. The board met earlier this week to consider a shortlist drawn up by headhunter Zygos.

Comments

    Leave a comment

    Close

    Discover even more as a subscriber

    This article is available for subscribers only.

    Sign up now for your access-all-areas pass.

    If you're an existing paid print subscriber find out how to get access here.

    Subscribers enjoy unlimited access to unrivalled coverage of the biggest issues in marketing, alongside practical advice from the digital experts at Econsultancy.

    With a subscription to Marketing Week Premium you will get full access to:

    > World-renowned columnists

    > Analysis & case studies

    > Exclusive leading-edge insight

    > Carefully curated reports & briefings from Econsultancy

    > Plus, much more including a £300 discount for the Festival of Marketing

    Subscribe now

    Got a question?

    Contact us on +44 (0)20 7292 3703 or email customerservices@marketingweek.com

    If you are looking for our Jobs site, please click here

    Subscribers enjoy unlimited access to unrivalled coverage of the biggest issues in marketing, alongside practical advice from the digital experts at Econsultancy.

    With a subscription to Marketing Week Premium you will get full access to:

    > World-renowned columnists

    > Analysis & case studies

    > Exclusive leading-edge insight

    > Carefully curated reports & briefings from Econsultancy

    > Plus, much more including a £300 discount for the Festival of Marketing

    Subscribe now