Shares in ITV plunged after its biggest investor sold half its stake.
Liberty Global has owned around 10 per cent of the British broadcaster since 2015.
But the US media giant, led by telecoms tycoon John Malone, has sold 193.4m shares to institutional investors for £135million, cutting its holding to 5 per cent. Shares in ITV fell 8.6 per cent, or 6.4p, to 68.15p.
Dan Coatsworth, head of markets at AJ Bell, said the sale ‘is likely to rekindle speculation over who might want to buy the business’.
‘Halving its stake is a significant development as it effectively removes a potential blocker if someone makes a takeover offer,’ he said.
Liberty had been tipped as a potential buyer of ITV – or a major player in any takeover.
Shares in ITV, whose hit shows include Frauds starring Suranne Jones and Jodie Whittaker (pictured), fell 8.6%
Specialist investment firm Redwheel is now the largest shareholder, with a 6pc stake according to London Stock Exchange data.
ITV has faced intense competition from US streamers such as Netflix, and a downbeat advertising market.
Liberty Global has agreed to a 60-day lock-up period on further ITV share sales.
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