All3Media Still Up For Grabs But Hefty Debt Pile & $1.3B Valuation Could Slow Down Sale Of ‘The Tourist’ & ‘Traitors’ Firm
deadline.comWarner Bros. Discovery (WBD) and Liberty Global’s bid to sell The Tourist and Traitors maker All3Media could be hampered by concerns over a hefty debt pile and weighty £1B ($1.3B) valuation.
Despite ITV pulling out of the running for the super-indie last month, our sources remain confident that a deal will ultimately make but several have told us that challenges in the global economy could hold up the process and that interested parties still have multiple concerns.
Mike Fries, CEO and Vice Chairman of All3’s part-owner Liberty Global, recently signaled a “broader [sales] process” will get underway in September after UK network ITV walked away.
We hear prospective buyers have baulked at the estimated £1B valuation, especially amid a downturn in the ad and streaming markets and during two strikes, let alone economic challenges in the UK and other parts of Europe. “People are saying that it’s too expensive and is priced as if this is happening before the [downturn],” said one source who has spoken with multiple advisors involved in the process.
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