U.K. Broadcaster ITV Takes Look at Dick Clark Productions (Report)
The commercial network isn't expected to submit a formal bid though.
LONDON - Dick Clark Productions isn't only drawing interest in the U.S., but also in the U.K., with one report on Tuesday saying that British commercial broadcaster ITV has taken a look at the company behind the Golden Globes telecast.
ITV's ITV Studios content production unit has been a key growth driver for the company, and it has looked to acquire businesses outside the U.K. Last month, for example, ITV Studios agreed to acquire Norwegian production outfit Mediacircus and struck an alliance with Israel's Reshet.
The Guardian said Tuesday that ITV has expressed an interest in Dick Clark, which private equity firm Red Zone Capital Management has been shopping around for around $350 million. But ITV, it said, was unlikely to submit a formal bid due to a lack of strong growth opportunities. One source said ITV was more likely to acquire more companies that develop new shows that could be sold around the world.
CBS Corp., American Idol parent Core Media Group, the show's host Ryan Seacrest, Miramax owner Colony Capital and private equity firms are among the other potential four to six bidders previously mentioned.
An ITV spokesman declined to comment.