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Crozier Abandons ITV Bid For All3Media

Despite ITV's top executive aiming to buy in new programming and production, it has now emerged that the commercial broadcaster has given up on a bid to acquire super-indie All3Media.
In May, Adam Crozier, Chief Executive of ITV, revealed the company would seek out acquisitions to bolster its in-house production business.
"We hope to bring some of them back into the fold. Over time we may need to look at some acquisitions," he said.
He told The Sunday Telegraph that ITV Studios was a main engine of growth for the company but that the operation had been undermined by departures of key personnel over the past few years.
"There are a number of on-screen talents that set up their own production companies because they had lost trust in ITV Studios," he said, and hoped that on the first anniversary of his appointment that he could turn this around with new acquisitions.
He targeted All3Media, the UK's largest independent television producer, after it had set up a strategic review to achieve the sale of the business with a price range of between £600m and £750m.
The maker of Skins, Undercover Boss and Shameless has had informal conversations about a sale in the past year, but none have resulted in a deal, according to two people familiar with its past strategy.
Analysts said ITV would be interested in the company, with the broadcaster's new management having so overtly identified its own producer, ITV Studios, "as a weakness".
All3Media has a growing US business, which is expected to exceed $100m (£62m) in sales this year, and Adam Crozier has also said that international distribution is a key part of his plans.
Despite all this, ITV is now said to have pulled out leaving the field to others who have shown a desire to buy into UK TV production.
These are reported to include Time Warner and NBC Universal.
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