ITV has aborted plans to buy Entertainment One, the owner of Peppa Pig.

The broadcaster said in a stock market statement that it has withdrawn its proposal to acquire eOne because the two companies could not agree on a price to begin negotiations.

The withdrawal comes a fortnight it emerged that eOne had turned down a £1 billion offer from ITV.

As well as owning Peppa Pig, eOne distributes television programmes and films, with recent releases including David Brent: Life on the Road and The BFG.

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