‘This is an important acquisition for us’: BBC Studios takes full ownership of BritBox
BBC Studios has bought out ITV’s 50% stake of BritBox International, taking full ownership of the streaming service.
The BBC’s commercial content studio bought out ITV for A$494.6 million (£255m) in cash. As part of the deal, BBC has extended its licensing agreements with ITV, to ensure it will remain on BritBox.
Launched in 2017 as a joint venture between BBC Studios and ITV in 2017, BritBox offer British scripted content to more than 3.7 million subscribers world wide.
“This is an important acquisition for us,” said Tom Fussell, CEO of BBC Studios. “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 UK. We will continue to make significant investments in the future to deliver long term value to the BBC.”
BritBox International will become part of BBC Studios’ Global Media and Streaming division, which includes BBC.com, BBC Select, the BBC’s ad-free documentary streaming service in North America and BBC Podcast Premium.
New leadership plans are in place “to ensure a smooth transition”, according to BBC Studios, and will be announced “imminently”.
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Nathan Jolly is the Deputy Editor of Mumbrella. He joined the team in July, 2023.
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