ITV has ended its interest in a deal to buy the TV arm of The Weinstein Company (TWC).
Widespread reports in the US had suggested the broadcaster could pay up to $970m (£630m) for TWC’s TV division based on a staggered deal, but an acquisition is no longer on the agenda.
It is thought that ITV remains interested in adding scripted assets to its largely factual entertainment production portfolio. But it has decided that TWC is not the right fit, and is understood to believe the company’s TV assets are too closely intertwined with the established film part of the business.
ITV, which had never formally confirmed the talks, declined to comment.
TWC’s TV slate includes epic Netflix period drama Marco Polo and BBC1’s forthcoming remake of War and Peace, which TWC is co-producing with Lookout Point, BBC Wales and BBC Worldwide.
TWC is working alongside BBC Productions, BBC Worldwide and Lookout Point on the BBC1 90-minute single film.