Investment firm RedBird IMI is set to acquire London-based TV and film production company, All3Media, from joint owners Warner Bros Discovery and Liberty Global, for a price of £1.15bn, according to a statement on Friday.

Owning 50 production labels, All3Media has produced popular shows including The Traitors, Squid Game: The Challenge, Call the Midwife, Gogglebox and Fleabag.