ITV has divested its media and entertainment divisions to Sky for £1.6 billion, marking one of the largest media transactions in British history. The deal, initiated by Comcast-controlled Sky in November 2025, transfers ownership of ITV's television channels and ITVX streaming platform, while ITV Studios—responsible for producing acclaimed programmes such as Love Island and I'm a Celebrity—continues as a standalone business.

The transaction reflects strategic consolidation within Britain's evolving media landscape, where companies are pursuing greater scale to compete with international streaming services and digital rivals. Sky has committed to spending £2.1 billion on content from ITV Studios over five years, and existing programming schedules will continue operating under regulatory obligations ensuring free-to-air broadcasting services remain available until 2034.