ITV plc: Update following Q2 2019 results and partial debt refinancing
Our credit view of ITV, reflecting the pressure on advertising revenue and scope for M&A, mitigated by its leading franchise in the UK and diversification from growth in content.ITV is engaged as an integrated producer broadcaster, creates, owns and distributes content on multiple platforms globally. At its Broadcast and Online operations, Co. operates commercial family of channels in the U.K and delivers content through multiple platforms. In addition to linear television broadcast, Co. delivers its content on the ITV Hub, catch up services on pay platforms, and through direct content deals. At its ITV Studios operations, Co. creates and produces international content business, creating and producing programmes and formats that return and travel, namely drama, entertainment and factual entertainment.
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