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ITV mulls joint venture with BBC to acquire UKTV

Two companies are reportedly planning a £1 billion bid for the broadcaster

ITV is reportedly mulling a joint venture with the BBC to acquire UKTV.

According to the Daily Telegraph, the two companies are considering a joint bid of £1 billion to take control of the broadcaster.

Currently, UKTV is a joint venture between the BBC and Scripps Networks Interactive. But Discovery’s recent acquisition of Scripps allows the BBC to activate a change of control clause which would enable it to buy out Discovery at a set price before the end of next week.

It was previously reported BBC Worldwide was planning a £500 million bid to take full control of UKTV.

According to the Telegraph, Discovery is also working on its own deal to take full control of the company.