Peppa Pig and Spotlight distributor denies takeover move by ITV

Entertainment One said on Thursday it had not received any approach, a day after Bloomberg reported that British commercial TV broadcaster ITV was pursuing a takeover of the Canadian company.

Entertainment One shares were up nearly 12 per cent at 177.5 pence in morning trade, while ITV shares were up as much as 1 per cent at 243.4 pence on the London Stock Exchange.

ITV, Britain's biggest commercial free-to-air broadcaster and owner of UTV Ireland, has been in talks with Entertainment One and no final decision has been made, it was reported on Wednesday.

Based in Toronto with its shares listed in London, Entertainment One's high-profile partnerships in recent years include those with DreamWorks Studios and production company Mark Gordon. The company distributed Oscar-winning film Spotlight and owns licensing rights to children's cartoon Peppa Pig.

Reuters/Bloomberg