1014 GMT - A partial sale of ITV Studios--valued at up to GBP3 billion--could provide a cash tailwind to the group and a boost to its share price as it plays catch up in the streaming segment, Interactive Investor's head of investment Victoria Scholar says in a note. Reuters reported that Hollywood producer Peter Chernin and French TV production group FL Entertainment have expressed interest in the business. ITV is reportedly open to selling a minority stake, but the bidders would prefer to take control of the business, Scholar says. Shares trade up 1.9% at 82.38 pence. (kyle.morris@dowjones.com)
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Entain's Strong 4Q Update Lifts Flutter Shares
1018 GMT - Entain's strong fourth-quarter update reflects positively on peer Flutter Entertainment, Goodbody says in a note, adding that the gaming group's 2022 Ebitda beat is a positive surprise. "Online has returned to double digit growth, retail continues to be impressive, as does the U.S. as evidenced in last week's BetMGM update," analyst David Brohan says. Goodbody has a buy rating on the stock. Entain shares sit at the top of the FTSE 100, rising 2.8%, with Flutter not far behind, up 2.2% and among the top performers of the index. (elena.vardon@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
02-01-23 0547ET
