Summary
ITV is in the early stages of discussing selling its television business to Sky for £1.6 billion. The deal talks involve ITV's TV channels and streaming service but do not include ITV's production arm. This move comes as the industry faces strong competition from streaming giants like Netflix and Disney.
Key Facts
- ITV is talking with Sky to sell its Media and Entertainment division for £1.6 billion.
- Sky is owned by Comcast, a company based in the United States.
- ITV's Media and Entertainment division includes TV channels and the streaming service ITV X.
- ITV Studios, which produces shows like Love Island, is not part of the deal.
- The television sector is facing tough competition from streaming services like Netflix and Disney.
- ITV predicts a 9% drop in advertising revenue at the end of 2025, partly due to cautious advertisers.
- A combined Sky and ITV would control over 70% of the UK's TV advertising market.
- Media analysts believe regulators might reject such a deal due to market dominance concerns.
