BBC Studios Buys ITV Stake In BritBox International For £255 Million

BBC Headquarters (Press Association via AP Images)

BBC Studios has bought out ITV’s stake in their joint streaming venture BritBox International for the sum of £255 million in a purchase that marks the largest single transaction ever for the BBC’s commercial arm.

ITV confirmed the sale Thursday, announcing that they had sold their 50 percent stake and that proceeds from the sale will be returned to shareholders through a share buyback scheme after the full-year results are released on March 7. ITV aims to focus its investment on its own streaming service, ITVX.

The acquisition brings BritBox International fully under BBC Studios’ umbrella, alongside platforms like BBC.com and BBC Podcast Premium. BritBox boasts almost 4 million subscribers across the eight countries it operates in and values in at around £500 million.

BBC Studios global media and streaming CEO Rebecca Glashow said: “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.”

As part of the deal, BritBox International CEO Reemah Sakaan will be stepping down, with new leadership plans already in motion.

Despite the change, BBC Studios reassures that commissioning plans will remain unaffected, emphasising their commitment to continuing partnerships with UK independents and ITV. The service is already home to popular UK-based shows like Line of Duty and Downton Abbey.