Report: Comcast mulling $16B bid for UK broadcaster ITV

Comcast (NASDAQ: CMCSA) and its NBCUniversal division are considering a $16 billion purchase of Britain's ITV broadcast unit, according to numerous reports originating out of the U.K. 

ITV is one of four major broadcast networks in the U.K. and the home of international hit British period drama Downton Abbey. The network is 10 percent owned by Liberty Media titan John Malone. Despite dour pronouncements on the future of broadcast television, ITV has been a stellar stock market performer, increasing in value by a factor of 400 percent under chief executive Adam Crozier.

Neither Comcast nor ITV has commented.

The reports come amid a broader belief that, seven months after backing away from its bid to acquire Time Warner Cable (NYSE: TWC) amid regulatory pressure, Comcast is set to make a major purchase. 

The conglomerate has been subject to speculation that it might also purchase T-Mobile US (NYSE: TWC) and Yahoo. 

"Once it became clear that regulators were going to treat this deal like we were still living in 1985, Comcast executives were smart to realize that wasting a year trying to accommodate regulators' concerns is a colossal waste of time when there are other, more pressing issues to confront," said James McQuivey, VP and principal analyst at Forrester Research, earlier this year. 

For more:
- read this Advanced TV story
- read this Investors Business Daily story

Related articles:
Comcast Business scores 100 GigE deal with Sacramento Kings, enables Wi-Fi, UC services
Comcast Colorado Springs facility evacuated as a cable-industry bomb-threat trend emerges
Comcast reaches $26M settlement with California over electronic waste

Suggested Articles

Altice USA is giving premium pay to its customer-interfacing employees during the coronavirus crisis, but not all cable technicians will qualify.

T-Mobile this week wrapped up the lengthy process of acquiring Sprint. With the deal done, the company may pick up where it left off on video.

The Hulu app is starting to roll out across the Comcast Xfinity X1 platform after last month showing up on the Xfinity Flex platform.