Sky to pay £1.6bn for ITV's broadcast and streaming division
The deal will combine free-to-air channels, ITVX and Sky’s pay-TV platform, while ITV Studios remains separate and shareholders get about £950 million.
- On Monday, Comcast-owned Sky agreed to acquire ITV's Media and Entertainment division for up to £1.6 billion, uniting the broadcaster's terrestrial channels and ITVX streaming platform to compete against global streaming giants.
- Following nine months of negotiations, the deal reflects a broader trend of traditional broadcasters pursuing consolidation to compete with Netflix and YouTube in an increasingly competitive media landscape.
- ITV Studios will operate as a standalone production business, retaining "The Great British Bake Off" producer Love Productions, while signing a long-term content supply agreement through 2032.
- Under Channel 3 licenses running until 2034, all ITV public service commitments including regional news remain protected, ensuring the network stays at the heart of British life, Sky CEO Dana Strong said.
- Shareholders stand to receive roughly £950 million upon the deal's expected 2027 close, while ITV Studios will reduce leverage to around 1.5 times net debt to EBITDA pending regulatory approval.
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ITV sells its broadcasting arm to Comcast’s Sky for up to £1.6bn
ITV has agreed to sell its media and entertainment division to Sky, the Comcast-owned broadcaster, in a deal worth up to £1.6bn that redraws the map of British television. The transaction hands Sky the ITV channels and the ITVX streaming service, and leaves the seller as a pure production business, a split that arrives as […] This story continues at The Next Web
Sky, from Comcast, agreed to acquire ITV's television business for up to $2.14 billion, in an agreement that will bring together two of the UK's best-known media brands. Exclusive material for subscribers. To have full access, access the link to the story and register.
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