BBC buys out ITV from major streaming app with hits such as Line of Duty

The BBC has bought ITV from a major streaming app in a £225 million deal.

The TV service, with hits such as Line of Duty and Death in Paradise, was originally launched by both channels as a joint venture in 2017.

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Beeb bosses have now reached an agreement to fully acquire BritBox International, the companies announced on Friday.

BritBox International, which is separate from the UK version, will now be wholly owned by the BBC.

The streaming service has grown to approximately 3.75 million subscribers and offers content from both platforms.

ITV said the deal would allow it to focus on its own UK streaming service, ITVX.

Executives added that the company would return any money it makes from the sale to shareholders.

ITV content will still be available on BritxBox International – meaning they’ll still get a revenue stream.

The licensing agreements between ITV and BritBox have been extended as part of the deal, the companies said.

ITV added: “BritBox UK remains unaffected and will continue to offer BBC content as part of separate long-term agreements.”

Tom Fussell, CEO of BBC Studios, said: “This is an important acquisition for us.

“We take full responsibility for a successful, growing service that we know well and which fits with our stated ambition to double the size of our company.

“Britbox International has British content at its heart, generating and meeting demand for British shows outside the UK.

“We will continue to make significant investments in the future to deliver long-term value to the BBC.”

ITV chief executive Carolyn McCall added: “The sale of 50 per cent of BritBox International means ITV is focused on its core strategic objectives of continuing to build on the success of ITVX and growing ITV Studios.”

BritBox International is available in eight countries: the US, Canada, Australia, South Africa, Denmark, Finland, Norway and Sweden.