Entertainment One backs Fox’s £21 billion Sky takeover

Entertainment One, the TV show and filmmaker behind Designated Survivor, has backed 21st Century Fox’s controversial £21 billion takeover of Sky.

The production company said it thought that Fox would allow Sky to run “quite independently” and that both businesses would keep supporting high-quality scripted shows.

Some critics say Fox is not a “fit and proper” owner of such a major UK broadcaster.

Profit for the year to March tumbled by £11 million to £37 million, owing to what eOne insists are “one-off items”. Notably this includes a £20 million write-off to end a deal with a film distributor.

EOne refused to say who the party was. Revenues for the year rose 35% to top £1 billion for the first time.

Another 117 episodes of Peppa Pig should boost sales next year. PJ Masks is also proving popular.

Bridie Barrett, analyst at Edison Investment Research, said: “The financial and risk profile of eOne has vastly improved over the last two years.”

The full-year dividend is lifted to 1.3p from 1.2p.