ITV acquires Disney’s GMTV stake

British commercial broadcaster ITV has acquired full ownership of breakfast TV franchise operator GMTV.

It has paid a one off cash payment of £22.25 million to The Walt Disney Company for the 25% stake of GMTV that it does not currently own.

ITV said that the acquisition is part of its strategy to focus on core activities and will allow it closer integration between ITV and its breakfast service.

Chief operating officer John Cresswell said: “GMTV is the gateway to the ITV day and a perfect fit with ITV’s existing daytime programming.”

Meanwhile, ITV has commissioned two daytime formats from the team behind hit cooking series Come Dine With Me and Britain’s Best Dish.

It has commissioned ITV Studios to produce 5x1hour Auction Party, which challenges members of the public to hold auctions in their living rooms, and Country House Cooking Contest, a cooking competition in a country estate.

Both shows are to be executive produced by Come Dine With Me creator Nell Butler.