Liberty Global CEO Mike Fries Says All3Media Sale Is “Bittersweet”; Confirms ITV Back In For Producer – RTS Cambridge
Liberty Global CEO Mike Fries has said that the sale of All3Media will be a “bittersweet” moment, as it launches an auction for the British super producer.
Pay-TV giant Liberty has co-owned All3Media with Warner Bros. Discovery since 2014 and has this week launched a formal £1B ($1.2B) sale process for The Traitors producer.
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Fries told the RTS Cambridge Convention that they are looking to sell because All3Media “might be a business that has greater value in a larger platform” amid wider industry consolidation.
“It’s bittersweet. Let’s see what happens,” he said, adding that “pretty much everybody you can think of” is interested in acquiring the production group.
Gesturing to an ITV executive in the audience, he added: “Even that company here, ITV.”
It appeared to confirm what Deadline revealed in August: that ITV is not out of the running for All3Media, despite telling shareholders it was “no longer actively exploring” a deal.
Fries added that he would be “fine” to keep hold of All3Media. Other interested parties are thought to include Banijay and Sony Pictures.
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