Sky Acquires ITV Media and Entertainment Arm for Up to £1.6 Billion
The deal aims to create a major competitor to global streaming giants, combining ITV's channels and streaming service with Sky's offerings.
Sky has agreed to acquire ITV's media and entertainment division for up to £1.6 billion, following months of negotiations. The acquisition, initiated by American-owned Comcast, Sky's parent company, in November 2025, aims to merge the two entities into a significant player capable of challenging global streaming services like Disney Plus and Netflix.
Under the terms of the deal, Sky will purchase ITV's terrestrial television channels and its streaming service, ITVX. However, ITV Studios, the production arm responsible for shows such as 'I'm A Celebrity' and 'Mr Bates Vs The Post Office', will remain independent. ITV Studios will be listed on the London Stock Exchange as a standalone global content business and will continue to supply content to the combined Sky and ITV entity under a long-term agreement.
Sky stated that popular programs will not see immediate changes. "Viewers will continue to enjoy the shows they know and love, such as Coronation Street, Emmerdale, Love Island, I'm a Celebrity... Get Me Out of Here!, This Morning, Loose Women, Lorraine and News at Ten – alongside major live sporting events," a Sky spokesperson said.
Dana Strong, Sky's group chief executive, emphasized the synergy of the merger. "Bringing Sky and ITV Media & Entertainment together combines the very best of free-to-air television, pay TV and streaming, ensuring viewers across the UK continue to enjoy outstanding British programming in a rapidly changing world," Strong commented. "ITV will remain a public service broadcaster at the heart of British life, and we’re excited about the future we can build together." The integrated streaming platform is expected to reach over 16 million viewers monthly.
ITV is legally obligated to maintain a free-to-air service until at least 2034, as per its public service broadcasting license. Future changes, such as the potential discontinuation or renegotiation of certain ITV shows by Sky to achieve cost savings, are possible.
The transaction is subject to approval from shareholders and regulatory bodies. While specific numbers have not been confirmed, job losses are anticipated, particularly in corporate and commercial roles, as a result of the integration.