ITVPF ITV Plc (PK)

By Rory Gallivan

LONDON--Entertainment One Ltd. (ETO.LN) said Thursday that it has not received any approaches after reports said the U.K. broadcaster ITV PLC (ITV.LN) is pursuing a takeover of the movie and television distribution company.

"Entertainment One notes the press speculation regarding a potential offer," said the London-listed company, which is best known for owning the rights to the cartoon character Peppa Pig.

"No approach has been received," it added.

Shares in the company were up by 10.9% in early trading in London despite the statement.

A report by Bloomberg News said ITV "has held talks with Entertainment One about a possible deal", citing people with knowledge of the situation.

Shares in Entertainment One, which has distributed films including Spotlight and Eye in the Sky, have been under pressure lately amid a fall in box office revenue.

ITV declined to comment. The U.K.'s biggest commercial free-to-air broadcaster has been on the acquisition trail lately, most recently acquiring its Northern Irish affiliate UTV PLC and Talpa Media BV, which produces the television program "The Voice".

Shares in Entertainment One at 0722 GMT, up 17 pence, or 10.9%, at 176 pence valuing the company at 751.7 million pounds ($1.1 billion).

Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter: @RoryGallivan

(END) Dow Jones Newswires

April 14, 2016 03:53 ET (07:53 GMT)

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