Sky owner announces £1.6bn takeover of ITV’s broadcasting arm
Summary
Sky, owned by Comcast, will buy ITV’s broadcasting and streaming business for £1.6 billion to form the UK’s largest commercial broadcaster. The deal includes ITV’s free TV channels and streaming service but does not include ITV Studios, its show-making division.Key Facts
- Sky will initially pay £1.2 billion in cash for ITV’s media and entertainment business.
- An extra payment up to £200 million may be made in late 2028, based on 2027 advertising revenue.
- Comcast will sell its Love Productions company, which makes The Great British Bake Off, to ITV for £200 million.
- ITV Studios, which produces shows like Love Island and I’m a Celebrity, is not part of this deal.
- Sky plans to invest at least £2.1 billion in the combined business between 2028 and 2032.
- The deal aims to help ITV compete better with global streaming services.
- The announcement follows months of complex negotiations between Sky and ITV.
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