Sky Agrees £1.6 Billion Deal to Acquire ITV's Media Business
Sky has agreed a £1.6 billion deal to acquire ITV's Media & Entertainment division, creating one of the UK's largest commercial television and streaming businesses.
Sky has announced an agreement to acquire ITV's Media & Entertainment division in a landmark deal worth up to £1.6 billion, bringing together two of the UK's biggest television and streaming companies. The move aims to create a stronger British competitor to global streaming platforms such as Netflix, Disney+ and YouTube.
The proposed acquisition includes ITV's free-to-air television channels and its ITVX streaming platform. However, ITV Studios, the company's successful television production business behind programmes including Love Island, I'm A Celebrity... Get Me Out Of Here! and Mr Bates vs The Post Office, will remain a separate publicly listed company.
As part of the agreement, Sky has also committed to a £2.1 billion content partnership with ITV Studios over the next five years, helping to ensure that popular British dramas, entertainment shows and sporting events continue to be produced and remain available to UK audiences. Both companies say ITV's public service broadcasting commitments and trusted news output will continue under the new ownership.
The combined business is expected to reach around 20% of all UK in-home television viewing, making it one of the country's largest commercial broadcasters and streaming providers. Sky believes the merger will strengthen investment in British programming while improving its ability to compete against international streaming giants.
The acquisition is still subject to approval by UK regulators, including the Competition and Markets Authority (CMA)and Ofcom, with the review process expected to take between 12 and 18 months. If approved, the companies estimate the merger could deliver around £200 million in annual savings through shared technology, operations and marketing.
Industry experts have described the agreement as one of the most significant changes to British television in decades, reflecting the growing pressure traditional broadcasters face from global streaming services and changing viewing habits.
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