ITV has set its sights on acquiring Weinstein Co.’s TV division.
The U.K. giant is said to be in talks to buy out Weinstein Co.’s television operation for an estimated $300 million. ITV declined comment, while Weinstein Co. reps could not immediately be reached for comment.
If completed, the deal would include incentive- and performance-based payments over time that could greatly increase the value of the deal to Weinstein Co. It is expected that the company would continue to run autonomously under the direction of TWC co-chairman Harvey Weinstein and other execs.
ITV has been scooping up independent production companies left and right during the past few years as it looks to bolster its assets as a global content provider to complement its network presence in the U.K. Recent purchases at lofty valuations have included John de Mol’s Talpa Media, “Teen Wolf” producer DiGa Vision and “Pawn Stars” producer Leftfield Pictures.
Weinstein Co. has ramped up its TV activity in the past few years both in the scripted and unscripted arenas. The company’s active roster includes Lifetime’s “Project Runway,” VH1’s “Mob Wives,” National Geographic TV’s “Southern Justice” and TLC’s “Welcome to Myrtle Manor.” Weinstein Co. 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.”
News of the prospective Weinstein-ITV deal was first reported by the Hollywood Reporter.