U.K. Broadcaster ITV Calls Off Pursuit of TV Arm of The Weinstein Company: Report

ITV's U.S. assets include a controlling stake in Thinkfactory, which produced 'Texas Rising' for History

LONDON — U.K. network ITV has ruled out a bid for the TV division of The Weinstein Co., according to a report in Broadcast magazine.

It had previously been reported by several outlets that the U.K. commercial channel was lining up an offer of $970 million for TWC’s TV arm.

ITV has been on a buying spree in the U.S. and Europe over the past five years, acquiring major stakes in producers of both scripted and unscripted shows. In 2013, for example, ITV took a controlling stake in Thinkfactory Media, the U.S. producer of reality, entertainment and drama shows, including the Emmy award-winning “Hatfields & McCoys,” and “Texas Rising,” which premiered Monday on History.

TWC has ramped up its TV activity in the past few years both in the scripted and unscripted arenas. The company’s roster includes Lifetime’s “Project Runway,” VH1’s “Mob Wives,” National Geographic TV’s “Southern Justice” and TLC’s “Welcome to Myrtle Manor.” TWC is also behind Netflix’s “Marco Polo” drama series and two upcoming limited series: WGN America’s “The Ten Commandments” and NBC’s “The Reaper.”

ITV is reported to have decided that TWC’s TV division is too entangled with the company’s movie operations to make a clean break.

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