BBC Studios, the BBC’s commercial content studio and streaming business, is acquiring ITV’s 50 percent stake in BritBox International for $322 million.
The deal, announced Friday, will give BBC Studios full ownership of the BritBox streaming platform and values the streamer at $631 million. As part of the agreement, BBC Studios has extended its licensing agreements with ITV to ensure that the latter company’s British content will continue to appear on BritBox.
BBC Studios said that BritBox will become part of the company’s Global Media and Streaming division, complementing its expanding portfolio of digital and direct-to-consumer services that includes BBC.com, BBC Select, the BBC’s premium ad-free doc streaming service in North America and BBC Podcast Premium, an audio service available in more than 160 countries.
“This is an important acquisition for us. We are taking full ownership of a successful, growing service we know well and that fits with our stated ambition to double the size of our business,” BBC Studios CEO Tom Fussell said in a statement. “Britbox International has British content at its heart, and it generates and satisfies demand for British shows outside the U.K. We will continue to make significant investments in the future to deliver long-term value to the BBC.”
Carolyn McCall, ITV CEO said in a statement: “The sale of 50 percent of BritBox International means ITV is focused on its core strategic goals of continuing to build on ITVX’s success and growing ITV Studios.”
BritBox is the world’s leading British specialist streamer, carrying classic and current series and films from the BBC and ITV, the U.K.’s two biggest entertainment groups. The streamer is home to long-running shows such as EastEnders, Coronation Street and Emmerdale, as well as dramas like Line of Duty, Luther and Shetland.
Launched in 2017, BritBox is available in eight countries — the U.S., Canada, Australia, South Africa, Denmark, Finland, Norway and Sweden — and now boasts 3.75 million streaming subscribers.
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