ITV is “no longer actively exploring the possible acquisition of All3Media,” according to the UK broadcasting and production group.
In a statement to the London stock exchange, ITV said that it continues to monitor the sale process of superindie group All3Media but is not actively exploring a purchase.
All3Media is owned by Warner Bros Discovery and Liberty Global, while ITV is Britain’s biggest free-to-air commercial broadcaster.
In its statement, ITV added that it “assesses all potential value-creating M&A opportunities against its strict financial criteria and disciplined capital allocation framework.”
A potential tie-up between ITV and All3Media was first reported in June.
ITV has been building up its production division, ITV Studios, in recent years as it seeks to diversify its revenues beyond television advertising. ITV owns 60 production labels in 13 countries, which produce shows such as Love Island, The Voice and Coronation Street.
All3Media, meanwhile, is home to more than 50 production companies in the UK and internationally, including The Traitors producer Studio Lambert, The Tourist producer Two Brothers Pictures and Call the Midwife producer Neal Street.
Bankers at JP Morgan were called in in May to run the sale process for All3Media.