ITV confirms takeover talks with John de Mol's £500m-plus Talpa Media

Broadcaster and programme maker ITV has confirmed it is in takeover talks with Talpa Media, the maker of reality television and dramas including 'The Voice' and 'Utopia' that has been valued at over £500m.

In a short statement in response to recent speculation, ITV said that it was "continually assessing opportunities to grow and develop its business in line with its strategy, including the assessment of potential acquisitions".

The FTSE 100 company confirmed that it was engaged in "exclusive discussions" regarding a potential acquisition of Talpa but that the talks may or may not result in agreement of a transaction.

Set up by Dutch media mogul John de Mol, the man who developed the Big Brother series, Talpa Media has been valued in the Netherlands at between €600m and €700m.

Talpa had hired Bank of America Merrill Lynch late last year, according to Variety, after several media conglomerates, including 21st Century Fox’s Shine Group and RTL Group’s FremantleMedia showed an interest in a potential bid.

As well as its own music division, Global Music & Talent Agency, and its own record label, 8ball Music, the Dutch company has TV production companies in London, Los Angeles, Rome, Copenhagen and Dubai, some in partnership with local production houses.