Mike Fries, the boss of All3Media co-owner Liberty Global have said they are receiving a lot of interest in the studio, including from U.K. network ITV.
“We’re just starting the [sale] process and pretty much everybody you can think of is interested, even that company here ITV,” Fries said during the Royal Television Society conference in Cambridge, U.K. on Wednesday.
“All3 is an incredible business,” Fries continued.. “But the industry is changing and studios are searching for scale, especially pure play studios like All3Media. Warner Bros. Discovery are our partner and we decided this might be a business that has greater value in a larger platform and could be a catalyst for consolidation and really help transform other studio businesses. It has nothing to do with the business itself.”
“It’s not quite as strategic to us as it might be to Warner Bros. Discovery but they’re in their own situation as you well know. It’s bittersweet. Let’s see what happens. We don’t know exactly what will happen if we end up continuing to own it, that will be fine with me as well.”
“But I think it’s an interesting time for All3Media and also finding an opportunity to scale up itself. The management team there, the assets, the studios they have are world-class and in terms of the interest we’re getting we’re not the only ones who think that.”
