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ITV to become UKTV shareholder?

ITV is looking at buying a stake in UKTV, the broadcaster behind channels including Dave, Yesterday and Gold.

A report by The Telegraph indicates any deal would have to be done in the next fortnight.

UKTV is currently a joint venture between the BBC's commercial arm and Discovery, following its takeover of original shareholder Scripps Networks.

Under a clause in the original contract with Scripps, in the event Scripps sells to another company, BBC Worldwide has first refusal over the 50% stake it doesn't own. This 'right to buy' expires in the next fortnight.

Earlier this month, The Guardian reported that the BBC and ITV, as well as Channel 4 are considering a service that would compete with Netflix. The Telegraph report implies that a potential BBC/ITV deal over UKTV could boost competition with Netflix.

All parties have declined to comment on the reports.