Sky owner strikes £1.6bn ITV deal; easyJet shares hit four-year high after it agrees £5.5bn takeover ‘in principle’ – business live
The UK's broadcasting landscape is set for significant consolidation following Sky's agreement to purchase ITV's media and entertainment business. The transaction, valued at approximately £1.6bn, comprises cash payments totalling £1.4bn (with £200m conditional on advertising performance) and the contribution of Sky's production company Love Productions. The deal will establish a unified commercial broadcaster whilst allowing ITV Studios to operate as a separate content producer with contractual partnerships extending through 2032, with the transaction anticipated to complete in the latter half of 2027.
Simultaneously, British budget airline easyJet has indicated its intention to accept a £5.5bn acquisition offer from US-based investment firm Castlelake following weeks of negotiation. The agreement in principle marks a shift toward private ownership for one of the UK's largest carriers. Stock market response was notably positive, with easyJet shares recording substantial gains on the announcement, reflecting investor confidence in the proposed transaction.
- Sky agreed to acquire ITV's broadcasting division for ~£1.6bn, creating the UK's dominant commercial broadcaster with ITV Studios operating as an independent production company
- easyJet signalled acceptance of a £5.5bn takeover by US investment firm Castlelake, transitioning the airline from public to private ownership