Sky Nears Deal to Acquire ITV's Broadcast and Streaming Assets
Comcast-owned Sky is reportedly finalizing a £1.6 billion deal for ITV's TV channels and ITVX streaming service, aiming to create a UK streaming giant.
Sky is reportedly nearing a deal to acquire ITV's broadcast and streaming business, including its television channels and the ITVX streaming platform, for approximately £1.6 billion. Lawyers are said to be finalizing the terms of the agreement.
This potential acquisition, however, would exclude ITV Studios, the production arm responsible for popular shows like "Coronation Street" and "Love Island." The deal is expected to be announced within the next two weeks.
As part of the terms, ITV would reportedly buy Love Productions, the producer of "The Great British Bake Off" and "The Great British Sewing Bee," from Sky. Sources close to the negotiations suggest Love Productions could be valued between £80 million and £120 million.
The move by Comcast, Sky's owner, appears aimed at establishing a significant UK-focused streaming service to compete with major players such as Netflix, Amazon, and Disney. The proposed structure of the deal may also include performance-based payouts to ITV of up to £200 million.
This development occurs amid a trend of foreign companies making bids for London-listed companies. Earlier this week, EasyJet announced it had rejected a fourth offer from U.S. investment group Castlelake.
Shares in ITV saw a 3.6% increase following reports of the potential deal. ITV had announced it was in discussions with Sky in November 2025, with the broadcaster looking to capitalize on advertising revenue during the upcoming World Cup.