ITV in talks to sell television business to Sky

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Link: ITV in talks to sell television business to Sky - BBC News

 

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ITV has said it is in "preliminary" discussions to sell its broadcasting business to Sky for £1.6bn, a move that could reshape the UK's television landscape.

 

The talks focus on ITV's Media and Entertainment division, which includes its free-to-air TV channels as well as the ITV X streaming service.

 

The discussions with Sky, which is owned by US-based Comcast, come as the television industry faces fierce competition from streaming services such as Netflix and Disney+.

 

The deal would not include ITV's production arm - ITV Studios - which makes popular programmes such as Love Island and I'm a Celebrity... Get Me Out of Here.

 

On Thursday, ITV forecast that its advertising revenue would be 9% lower in the last three months of 2025, with advertisers cautious ahead of expected tax rises in the Budget.

 

Comcast, which owns Universal Studios, bought Rupert Murdoch's Sky in 2018 and is a major player in the US media landscape.

 

It owns NBCUniversal, which contains the NBC and CNBC channels, DreamWorks Animation and streaming service Peacock.

 

Media analyst Ian Whittaker told the BBC's Today programme that a combination of Sky and ITV would mean they had "70% plus" of the UK TV advertising market, which he said "in normal circumstances" would be rejected by regulators because of the dominance it would give them.

 

But he added that with rising competition from the streaming services raising questions over the future of TV, a takeover could be seen as almost a rescue deal...