KKR ‘to rival ITV in eOne chase’

Private equity giant KKR is reportedly lining up a bid for Entertainment One.

This puts it in competition with UK broadcaster ITV, which last week confirmed it had an offer of around £1.01 billion (US$1.3 billion) rejected by eOne’s management.

Various reports suggest KKR is “studying a potential proposal”, though has not yet decided whether to make a firm offer for the Toronto-based, London-listed company, which majority-owns the Peppa Pig brand and distributes The Walking Dead.

KKR was previously the majority co-owner of German broadcaster ProSiebenSat.1 and a stakeholder in Hulu. It last year created a media investment fund in Asia with The Chernin Group.

Reports say KKR is looking to expand its media portfolio. The company couldn’t be reached for comment before press time.

eOne shares have continued to rise in the days since ITV confirmed its interest, with many expecting the broadcaster to table an improved effort.

The share price stood at 251.60p at press time today, slightly down on the starting price this morning of 254.52p, but significantly up on the 235p ITV offered.