ITV in Talks with Sky Over Potential Sale

Introduction to the Deal

ITV has revealed talks with Sky, the owner of Sky News, over the potential sale of its media and entertainment (M&E) division in a deal worth £1.6bn. The approach is centered around the potential creation of a UK-focused streaming giant.

Details of the Sale

The division covers ITV’s current broadcast operations and channels and does not include the company’s studios, which produce shows. ITV stated that “there can be no certainty as to the terms on which a potential sale may be agreed or whether a transaction will take place.” A further announcement may be made in due course.

Reaction from Sky

Sky declined to comment on the matter. ITV released its statement after news of the discussions was first reported by Bloomberg News.

Update on the Story

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