Sky Acquires ITV Media Business for £1.6bn, Consolidating British Broadcasting and Creating Streaming Rival
Comcast-owned pay-TV operator Sky has agreed to acquire ITV's Media and Entertainment division for £1.6 billion, with the transaction expected to complete in the second half of 2027. The deal fundamentally separates ITV's business: its production arm, ITV Studios, will operate as an independent global content creator, while its television networks and streaming operations pass to Sky. ITV shareholders are set to receive roughly £950 million from the proceeds. The acquisition marks a significant consolidation in British broadcasting.
By combining ITV's channels and streaming with Sky's existing operations, the deal positions the enlarged group as a stronger competitor to international streaming giants such as Netflix, Amazon Prime and Disney+. It reflects the wider restructuring under way across traditional media as established broadcasters adapt to the shift towards digital, on-demand viewing.
- Sky to buy ITV's Media and Entertainment arm for u00a31.6bn.
- ITV Studios becomes an independent global content producer.
- ITV shareholders receive around u00a3950m; deal completes late 2027.
Coverage
- The Guardian — Sky owner strikes £1.6bn ITV deal; easyJet shares hit four-year high after it agrees £5.5bn takeover ‘in principle’ – business live
- BBC Entertainment — ITV sells media and entertainment arm to Sky for £1.6bn
- Variety — Sky to Buy ITV’s Media Arm for Up to $2.1 Billion: ‘This Is a Defining Moment for British Media’
- The Hollywood Reporter — Comcast’s Sky to Acquire ITV’s Networks and Streaming Businesses in $2.13 Billion Deal
- Deadline — Sky To Takeover ITV In $2.1B Deal That Dramatically Reshapes British Television
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