ITV to cut costs by £30m amid RedBird IMI merger talks [Yahoo! Finance]
ITV PLC UNSP/ADR (ITVPY)
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Source: Yahoo! Finance
ITV is to cut another £30m of costs amid discussions over a potential £3bn merger of its production arm with the Abu Dhabi fund blocked from taking control of The Telegraph. The public service broadcaster said it will make the additional savings this year after stripping £60m out of the business in 2024. The cost-cutting helped ITV more than double its pre-tax profits to £521m, while its studios division reported record profits thanks to the success of hits including Mr Bates vs The Post Office , Netflix thriller Fool Me Once and Rivals for Disney+. That was despite production revenues falling 6pc to just over £2bn owing to the impact of the Hollywood strikes and a slump in advertising. It comes as RedBird IMI, the UAE fund,weighs up a possible swoop that would
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News
- Jean Marsh, British actress and co-creator of ‘Upstairs, Downstairs,' dies at 90 [Los Angeles Times (CA)]Los Angeles Times
- ITV plc (OTCMKTS: ITVPY) was downgraded by analysts at UBS Group AG from a "hold" rating to a "strong sell" rating.MarketBeat
- ITV plc (OTCMKTS: ITVPY) was upgraded by analysts at The Goldman Sachs Group, Inc. to a "hold" rating.MarketBeat
- ITV Chief Downplays Studio Sale Speculation While Highlighting Digital Growth [Yahoo! Finance]Yahoo! Finance
- ITV Completes $193M Savings Program A Year Early As Annual Results Reveal Record Profits For ITV Studios [Yahoo! Finance]Yahoo! Finance