BBC Studios Takes Full Ownership of BritBox International


BBC Studios is buying out ITV’s 50 percent interest in their BritBox International joint venture for £255 million ($322.5 million).

BBC Studios and ITV teamed to launch BritBox International in North America and select other international markets in 2017. The streamer, which delivers a range of U.K. content, has more than 3.75 million subs and an enterprise value of around £500 million ($632.4 million). BritBox International will continue to feature content from ITV, with BBC Studios extending its licensing agreements with the company.

Under full BBC Studios ownership, BritBox International will become part of the company’s global media and streaming division, alongside assets such as, BBC Select and BBC Podcast Premium. BritBox International’s global CEO, Reemah Sakaan, is stepping down. New leadership will be announced shortly.

Tom Fussell, CEO of BBC Studios CEO, noted: “This is an important acquisition for us. We are taking full ownership of a successful, growing service we know well and that fits with our stated ambition to double the size of our business. Britbox International has British content at its heart, and it generates and satisfies demand for British shows outside the U.K. We will continue to make significant investments in the future to deliver long-term value to the BBC.”

Carolyn McCall, CEO of ITV, added, “The sale of 50 percent of BritBox International means ITV is focused on its core strategic goals of continuing to build on ITVX’s success and growing ITV Studios.”

Rebecca Glashow, BBC Studios’ global media and streaming CEO, noted: “I am thrilled to further our involvement in BritBox International. It’s a profitable business and a winning proposition. We see tremendous opportunity to grow this unique service and take it to even greater heights for its subscribers, with the full power of the BBC behind it.”

BritBox International UK continues to be fully owned by ITV and operated separately to BritBox International.