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Culture Secretary May Intervene Following £1.6 Billion Sky and ITV Deal
Lisa Nandy said the deal could reduce media plurality and news freedom, and the companies have until Oct. 20 to respond.
Culture Secretary Lisa Nandy announced she is "minded to intervene" in Comcast-owned Sky's $2 billion takeover of ITV, citing concerns over media plurality. The potential move could trigger formal regulatory scrutiny.
The $2.1 billion acquisition, announced late last year, combines the United Kingdom's pay-TV giant with its oldest commercial broadcaster. ITV Studios will be carved away as a standalone listed company.
Nandy stated she may intervene if she has "reasonable grounds to suspect" public interest considerations, including "the need for free expression of opinion in news media." She is considering legislation extending these protections to streaming services.
If Nandy proceeds, The CMA and Ofcom would assess the deal's impact while companies have until Oct. 20 to make representations. The regulator would then receive formal findings.
Earlier this year, Sir Peter Bazalgette noted government policy has favored consolidation as broadcasters compete with YouTube, Meta, and TikTok. Sky and ITV combined represent only a 30% market share.