ITV sells media and entertainment arm to Sky for £1.6bn

ITV is selling its media and entertainment divisions to Sky for £1.6 billion, a move the companies believe will forge a formidable rival to global streaming giants. The transaction encompasses ITV's broadcast channels and its ITVX streaming service, though the company's studio arm remains separate.

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a defining moment for British media.

This acquisition marks one of the most significant takeovers in British media history. American-owned Comcast, the parent company of Sky, initiated takeover talks in November of the previous year. Sky's chief executive, Dana Strong, described the deal as "a defining moment for British media."

Sky Group stated that the UK media landscape is undergoing rapid and profound transformation. As competition for audiences intensifies, achieving scale is crucial for effectively competing with global streaming giants and YouTube within the UK. Despite the significant change in ownership, Sky assured the public that there would be no immediate alterations to beloved programs.

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The UK media market is undergoing a profound and rapid transformation, and as competition for audiences intensifies, scale matters more than ever in order to compete with global streaming giants and YouTube in the UK.

Viewers can continue to enjoy popular shows such as "Coronation Street," "Emmerdale," "Love Island," and "I'm a Celebrity... Get Me Out of Here!," along with major live sporting events. ITV is legally obligated to maintain a free-to-air service until at least 2034 under its public service broadcasting license.

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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.