Reports say ITV is nearing a deal worth $950 million for the TV division of The Weinstein Company (TWC), the production studio set up by film producers the Weinstein brothers.
An initial payment for TWC’s TV arm would total between $300 million and $400 million, the reports suggest, with bonuses and payouts potentially tripling the figure.
The deal 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.
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.