Fleabag, The Traitors production company All3Media sale process beginning

Sources tell Reuters that All3Media has begun a sale process for the British production company behind Fleabag and The Traitors. The sale has been flagged for months. 

These sources, speaking on the condition of anonymity, told Reuters that "Shareholders Liberty Global Plc (LBTYA.O) and Warner Bros Discovery (WBD.O) have shared information with prospective buyers...this week following expressions of interest over the summer."

All3Media has not yet responded to our request for comment. Similarly, Reuters says "All3Media did not immediately reply to requests for comment."

The company has previously been valued at approximately £1 bn ($1.24 billion).

In July, ITV withdrew from talks to buy All3Media. Mike Fries, CEO and Vice Chairman of Liberty Global, hinted to Deadline in August that a "broader [sales] process" would begin in September. 

At the time, a source told Deadline: "People are saying that it’s too expensive and is priced as if this is happening before the [downturn]." 

All3 had a reported net debt of £760m ($942m), an increase of 20% from the previous year according to their most recent full-year accounts. However, it also posted a record turnover of £1bn (£1.24bn) and an earnings before interest, taxes, depreciation, and amortisation amount of £100m ($124m). 

The same Deadline source speculated "that All3 could be ripe for a private equity investor, rather than a sale to a competitor."