ITV sells its broadcasting arm to Comcast’s Sky for up to £1.6bn
ITV has agreed to sell its media and entertainment division to Sky, the Comcast-owned broadcaster, in a deal worth up to £1.6bn that redraws the map of British television.
The transaction hands Sky the ITV channels and the ITVX streaming service, and leaves the seller as a pure production business, a split that arrives as traditional broadcasters everywhere try to find scale against the streamers.
It also lands months after the UK moved to bring Netflix, Amazon, and Disney+ under broadcaster-style rules, a sign of how blurred the line between the two camps has become.
The structure of the deal is more layered than the headline number suggests. ITV will receive £1.2bn in cash, plus an earn-out of up to £200m tied to its advertising performance in the 2027 financial year, and it will keep Love Productions, the studio behind The Great British Bake Off, folding it into...
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