Sky Set to Buy ITV Broadcast and Streaming Divisions in £1.6 Billion Deal
The deal would combine ITV’s channels and ITVX with Sky’s pay-TV business as regulators review competition concerns and news-coverage questions.
- On Thursday, Sky, the Comcast-owned British pay-TV group, agreed on terms to acquire ITV's Media & Entertainment division in a £1.6 billion deal, with ITV Studios acquiring 'The Great British Bake Off' producer Love Productions.
- This transaction aims to create a UK-based streaming powerhouse capable of rivalling Netflix and Amazon Prime Video as audiences shift from linear channels to streaming platforms. The agreement separates ITV's broadcast and streaming operations from its production business, ITV Studios, which will remain standalone.
- Investors reacted positively to the announcement, with ITV shares rising 2.5% on Thursday, while the agreement includes a performance-based earn-out of around £200 million dependent on the Media & Entertainment division's future performance.
- Regulatory approval is required from the Competition Markets Authority and Ofcom, with British government culture secretary Lisa Nandy holding final decision authority over the acquisition.
- Rival broadcasters Channel 4 and Channel 5, dependent on advertising revenue, are likely to oppose the deal on competition grounds, citing concerns over ITV's 40% stake in news provider ITN.
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Report: Comcast to acquire British public service broadcaster ITV for $2.1 billion
The front of ITV Studios in Greater Manchester as it appeared in 2020. (Photo via Wikimedia Commons) Comcast is ready to grow its media empire in the United Kingdom by acquiring British public service broadcaster ITV, according to a report published this week. The report, from Reuters, said Comcast’s satellite and streaming company Sky Group will spend $2.1 billion to purchase ITV’s broadcast network and related streaming platform ITVX, which ha…
Sky & ITV Agree Terms Over $2.1B Deal As Love Sold To ITV Studios
Sky and ITV have agreed terms over their £1.6B ($2.1B) acquisition deal and the move that will shake up British broadcasting could be announced in the next fortnight, according to Reuters. As part of the deal, Reuters confirmed previous reporting that The Great British Bake Off producer Love Productions will be sold to ITV Studios. […]
Comcast-Owned Sky Agrees on Terms to Buy ITV’s Broadcast and Streaming Unit (Report)
Sky, the Comcast-owned U.K. pay-TV operator, has agreed on terms to buy British broadcaster ITV’s media and entertainment division, which is its network arm. Reuters reported the development on Thursday, citing two people familiar with the negotiations. As part of the £1.6 billion ($2.1 billion) deal, ITV Studios – the standalone production unit – would […]
Times of India
The Economic TimesComcast-owned Sky reaches terms to buy ITV's broadcast unit, sources say
Sky is reportedly close to acquiring ITV's broadcast and streaming division for £1.6 billion, with ITV set to gain "The Great British Bake Off" producer Love Productions. This significant deal, nearing finalization, aims to forge a major UK streaming competitor against global giants. The transaction includes Love Productions and a performance-based earn-out, potentially reshaping the British media landscape.
Sky reaches terms to buy ITV's broadcast unit
Sky, the Comcast-owned British pay TV group, has agreed on terms to buy ITV's broadcast and streaming unit, two people familiar with the matter said, with ITV acquiring "The Great British Bake Off" producer Love Productions as part of the deal.
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