Antenna TV boss has $2.9 bil to buy media

ITV an unconfirmed possible takeover target

LONDON -- Greek shipping scion and Antenna TV CEO Theodore Kyriakou has emerged as an unlikely potential investor in British media assets, telling the Financial Times that he has a war chest of 2 billion pounds ($2.9 billion) to invest in U.K. and European media.

He would not comment directly on a possible investment in ailing commercial broadcaster ITV, but said he is "not going to rule out anything."

Shares in the broadcaster that airs "X Factor" and "Britain's Got Talent" have been steadily rising since mid-December despite falling markets.

Kyriakou, told the Financial Times that he has 600 million pounds ($874 million) in cash to invest -- with hopes of bulking that up via leverage to more than 2 billion pounds -- and will be looking for growth opportunities in the U.K. and Europe.

"We are not about to rush in anywhere, but will wait to see what opportunities turn up in the next six to 18 months," he told the Financial Times. "We are looking for businesses with growth potential and we are looking at Internet, production, pay TV, free-to-air television and magazines."
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