ITV is said to be mulling a joint venture arrangement with the BBC by acquiring the 50% of British broadcaster UKTV that is currently owned by Discovery. BBC Studios (formerly BBC Worldwide) already holds the other 50% of the company and has an option to buy the Discovery stake which it would then immediately sell to ITV, according to The Telegraph. The parties are not commenting the report that the rivals are considering the deal which would make them partners in the £1B venture. Terms would be required to be agreed by the end of next week, the report said. Although the BBC and ITV are fierce competitors, they successfully launched U.S. streaming service Britbox in 2017 and joining hands on UKTV is seen as a means to bolster the homefront against the U.S. tech giants. UKTV is comprised of a mix of 10 free-to-air and pay-TV channels and has a free streaming service. It’s also recently made an expanded move into originals.
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