ITV: Hollick and KKR Reportedly Mulling Takeover Bid

19 June 2006

Having earlier this year successfully repelled a £1.6 billion ($2.78bn; €2.29bn) bid from a US private equity consortium fronted by former BBC director general Greg Dyke [WAMN: 04-Apr-06], Britain's largest commercial television company ITV is reportedly again under threat.

According to UK national newspaper The Mail on Sunday, the broadcaster is currently fixed in the crosswires of the European arm of US venture capital firm Kohlberg Kravis Roberts, headed in the UK by former ITV regional franchise-holder Lord Clive Hollick.

Hollick has never made a secret of his yen for ITV. On joining KKR last year, Hollick admitted that buying ITV "would have a nice ring to it - to sell at the top and buy lower down". He added: 'I wouldn't rule anything out. We are looking for really good businesses where management could make a difference.

The bid - if it comes to fruition - is likely to be in conjunction with European private equity firm Permira.

Data sourced from; additional content by WARC staff