Sky owner strikes £1.6bn ITV deal; easyJet shares hit four-year high after it agrees £5.5bn takeover ‘in principle’ - business live
Summary
Sky has agreed to buy ITV’s broadcasting and streaming business for £1.6 billion, creating the largest commercial broadcaster in the UK. Separately, easyJet plans to accept a £5.5 billion takeover offer from the US investment firm Castlelake, which would make easyJet a private company.Key Facts
- Sky will pay £1.2 billion in cash and contribute Love Productions, valued at £200 million, for the ITV deal.
- An extra £200 million may be paid by Sky if advertising goals are met in 2027.
- The ITV sale will return about £950 million in cash to ITV shareholders, equal to 25p per share.
- Sky and ITV agreed to spend at least £2.1 billion on content from 2028 to 2032.
- The ITV and Sky deal is expected to finish in the second half of next year.
- easyJet has agreed in principle to a £5.5 billion takeover by Castlelake after weeks of talks.
- This deal would take easyJet, the UK’s largest low-cost airline, off the public stock market and make it privately owned.
- Both deals reflect significant changes in the UK media and airline industries involving large financial transactions and ownership shifts.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
