LONDON – Global law firm Reed Smith has advised ITV plc on the sale of its 50% interest in BritBox International, a digital subscription streaming service, to its joint venture partner BBC Studios for a cash consideration of £255 million.
video streaming

BritBox International, launched in 2017, is the pre-eminent provider of British-focused content to international viewers and is available in the USA, Australia, South Africa and the Nordics. As part of the transaction, ITV Studios will receive an ongoing revenue stream via extended licensing agreements under which ITV content will continue to be streamed on BritBox International. BritBox UK, which is wholly owned by ITV following its buyout of BBC Studios’ shareholding in 2022, is unaffected by the sale.

Reed Smith corporate partner Philip Taylor commented: “We are delighted to have had the opportunity to support ITV on this strategically important transaction, which allowed us to draw on our wealth of experience in the entertainment and media M&A space to help deliver a successful outcome.”

The Reed Smith team advising ITV plc was led by corporate partners Philip Taylor and Stephen Mooney, and included corporate associates James Hatchard, Crystal Okwurionu and Emma Jones. The corporate team was supported by tax partner Caspar Fox and counsel Harrison Stimson, entertainment and media associate Henry Birkbeck, with U.S. support from partners Dan Connelly and Michelle Mantine, and associates Alaina Billingham and Erin Kranick.