ITV chief executive Dame Carolyn McCall has confirmed that the broadcaster has no intentions of acquiring BT Sport but is open to some kind of future collaboration arrangement.
Earlier this year BT appointed an investment bank to explore options for BT Sport - ranging from an outright sale to a new investment partner - as the company instead looks to focus its spending on broadband infrastructure.
ITV was said to be among the interested parties, in addition to Amazon, Disney and streaming service DAZN, but now McCall has moved to rule out an acquisition.
"We have a good relationship with BT and BT Sport in particular, and we do constantly talk to them about how we might collaborate and cooperate," she told investors. "Those discussions are ongoing.
"We are not in the market for that kind of acquisition. We've been focused on our balance sheet and we still see uncertainty ahead, but collaboration and cooperation with BT Sport, absolutely."
BT Sport holds the UK rights to several major competitions, including the Premier League, Champions League, French Ligue 1 football, Gallagher Premiership rugby, UFC and the MLB.