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.
138 Articles
138 Articles
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'Very compelling logic': Comcast‘s Sky set to buy ITV for $3 billion
Comcast-owned UK media company Sky says it will acquire the media and entertainment unit of UK broadcaster ITV for £1.6 billion (A$3 billion). The move will see the UK’s largest subscription TV player and free-to-air operator come under one roof, if it is approved by regulators. The sale does not cover ITV’s production division, ITV Studios, which will continue as a stand-alone business. Sky owns the free-to-air Sky News channel, as well as a su…
One Flew Over the Comcast Nest
On Monday, mere days after Brian Roberts signaled his intention to spin off NBCUniversal and Sky into a stand-alone media business, a glimmer of his masterplan may have emerged. Sky C.E.O. Dana Strong announced a $2.14 billion deal to acquire ITV’s television holdings—but not its studio business, which will list separately. The deal, which she […] The post One Flew Over the Comcast Nest appeared first on Puck.
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