ITV is on the verge of paying up to $950m (£630m) for the TV division of The Weinstein Company, the production studio set up by veteran film and TV producer Harvey Weinstein and his brother Bob, according to reports.
The Hollywood Reporter reports that an initial payment for TWC’s TV arm would total between $300m and $400m with bonuses and payouts potentially tripling the figure.
The deal, which has yet to be finalised, would be one of the largest in ITV’s recent spending on its ITV Studios production division, and would be the most significant investment by the broadcaster in scripted production to date.
An ITV spokesman said: “We do not comment on speculation.”
TWC recently had a second series of its historical series Marco Polo commissioned by Netflix, and is working on a mini-series based on Tolstoy’s War and Peace with the BBC. It also produces unscripted shows such as Project Runway, a reality show in which fashion designers compete to show off their designs at a major fashion show.
ITV last month acquired Talpa Media, the production company behind The Voice founded by Big Brother creator John De Mol, for an initial fee of £355m that could rise to as much as £730m.
The British broadcaster has been trying to reduce its dependence on advertising and increase its overseas footprint by strengthening ITV Studios.
On announcing the Talpa acquisition, ITV said it was a “further milestone in the company’s strategy of building an international content business”.
Most of the company’s recent production acquisitions have focused on unscripted and reality TV.
In the US it has bought Pawn Stars producer Leftfield and Duck Dynasty maker Gurney Productions, while in the UK it is home to Graham Norton’s So TV.
However, in July 2013 it acquired Big Talk, maker of sitcoms Rev and Friday Night Dinner, as well as the third instalment of Simon Pegg’s “Cornetto trilogy” of films, The World’s End, for an initial fee of £12.5m.
