0826 GMT ITV is advancing its ambitions to own digital content after bidding for Canadian film and television producer and distributor Entertainment One. The British broadcaster wants to reduce its exposure to the peaks and troughs of the advertising markets, which has been buffeted in times of economic slowdown as consumer rein in spending. In recent years, ITV has gone on a run of snapping up production companies across the world, including in the U.S., to boost its expanding production arm ITV Studios–its stellar-performing business that is driving the company’s top line. Entertainment One confirmed Wednesday it has received a preliminary proposal from ITV. ITV shares rise 0.3% at 199.2p. (simon.zekaria[a]wsj.com)
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