Company
LON:ITV
ITV PLC is a United Kingdom-based advertising funded broadcaster. The Company also operates as an advertising funded media owner in the United Kingdom across all media, including television, radio, press, cinema, outdoor and the Internet. As a producer, ITV makes hours of network television. Its digital channels include ITV2, ITV3, ITV4 and Citv. ITV also makes programmes for the BBC, Channel 4, five, Sky and other broadcasters. ITV produces programmes watched on screens from San Francisco to Sydney. In addition, it produces a range of products related to ITV programmes, such as digital video disks (DVDs) and computer games. Its online properties include itv.com and itvlocal.com.
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“ITV is doing everything in its power both to reduce reliance on advertising income while reacting to the ever-increasing number of options being provided by new and existing entrants"
The company has been focusing on its streaming services BritBox, launched in partnership with the BBC, and ITV Hub
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The UK's premier share index shed nearly 31 points at 7,328 with resource stocks, unsurprisingly, among the top laggards
Part of proceeds of the sale of the site, net of tax and fees, will be used to replace the asset security, and the remaining sale proceeds used to reduce ITV's net debt
ITV has often blamed Brexit for holding back ad revenues, but the government’s £100mln splurge on the ‘Get ready for Brexit’ campaign could help the broadcaster to beat full-year expectations
The UK broadcaster has already agreed to show three games over the next couple of weeks, and talks are underway to extend that deal through to the end of the season
Around 5.5mln people tune in to watch Love Island every night, which has helped ITV offset at least some of the expected drop-off in ad revenues this time around
Investments and investor services
FTSE 100 closed in the red on Wednesday as miners weighed after a sell-off in iron ore in China
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The Conservative Party leadership contest was decided by a relatively convincing margin of 92,153 votes to 46,656, while Love Island commands consolidated viewing figures of more than 5mln
Investments and investor services
In New York, the Dow Jones Industrials Average hit 27,153 by midday, while the S&P gained 0.2% and the Nasdaq was up 0.6%.
BritBox is like Netflix or Amazon Prime, except the content is made up of BBC and ITV content, both new and old
Analysts at Liberum said that the FTSE 100 broadcaster would be an "obvious" acquisition option for the streaming giant due to its substantial content production arm, ITV Studios
Liberum upgraded its recommendation on the stock to ‘buy’ from ‘hold’ and left its target price at 145p
The deal will see the FTSE 100 advertising giant sell its 75% stake to Los Angeles-based group Picture Shop
The US bank's analysts ramped up their share price target to 1,150p from 870p for the advertising group as organic growth is expected to improve in the second half of the year
Investments and investor services
The UK's blue-chip benchmark added over 23 points to close at 7,184
Investments and investor services
The FTSE 100 closed 32.86 points higher at 7,218.16 on Thursday, just easing off its late afternoon high of 7,235
The streaming service, which offers a combined content library from the BBC and ITV, is currently only available to North American subscribers, having launched there in 2017
The FTSE 100 broadcaster said that total external revenue was down 4% at £743mln in the quarter due to declines in spot advertising, which was blamed on the timing of Easter and “economic and political uncertainty”
