The bid for Sky (SKY) by the American media behemoth Comcast certainly put the cat amongst the pigeons for the sale of various 21st Century Fox assets to the Walt Disney group. My instinct would be that the Murdochs still love Disney and that the latter will end up the owner of Britain’s biggest pay TV company. However, that ongoing corporate excitement once again highlights the relevance of the old adage that ‘content is King’. ITV (ITV) knows this too. As its latest numbers a week ago showed, net advertising revenues remain under a bit of pressure (although off the lows of the first quarter of last year) even if we have the World Cup and another series of Love Island to ‘look forward to’. Increasingly, the value in ITV is entrenched in their Studios business which continues to produce original content for both its own channels and international distribution. The recently incoming CEO Carolyn McCall (who presided over a decent rise in easyJet shares during her CEO tenure there) in her inaugural results presentation reiterated this focus and their production budget for this year has been suitably hiked. The company has caught some flack over the last week for passing on their special dividend to help fund this while keeping debt under control but given a choice I back investing in your business every time…especially as the standard dividend yield paid by the company remains a cool 6%+.The Dynamic Opportunities Fund holds shares in both Disney and ITV.