Story perspectives

Sky to Acquire ITV Media for £1.6bn, Including Love Productions

6/26/2026

Summary

Sky Acquires ITV

Sky, owned by Comcast, agreed to buy ITV’s Media & Entertainment division for £1.6 billion.
The deal moves ITV’s broadcast channels and ITVX to Sky.
It also adds Love Productions, valued at £80-£120 million with a £200 million earn-out.
ITV shares rose about 3%, valuing the group at roughly £3.1 billion.
Ofcom, Competition and Markets Authority and the culture secretary must approve, with lawyers finalising the deal and an announcement possible within two weeks.

Summary

ITV Merger Opposition

Channel 4 and Channel 5, dependent on advertising revenue, are expected to oppose the merger on competition grounds.
ITV holds a 40 % stake in ITN, which supplies bulletins to Channel 4, Channel 5 and ITV, prompting concerns about editorial independence after the sale.
The Competition and Markets Authority and Ofcom must conduct a competition assessment, with culture secretary Lisa Nandy expected to weigh the deal’s impact on the UK advertising market.

History

Historical Context

In the early 1990s the UK relaxed ITV ownership rules, prompting a wave of takeovers—Yorkshire-Tyne Tees (1992), Carlton’s purchase of Central (1994) and Granada’s hostile buy-out of LWT (1994). The process culminated on 2 February 2004 when Granada acquired Carlton, creating ITV plc with Granada holding 68 % of the shares. Regulators now cite that precedent as Sky pursues a £1.6 billion Media & Entertainment deal.

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Sky Acquires ITV

Sky, owned by Comcast, agreed to buy ITV’s Media & Entertainment division for £1.6 billion.
The deal moves ITV’s broadcast channels and ITVX to Sky.
It also adds Love Productions, valued at £80-£120 million with a £200 million earn-out.
ITV shares rose about 3%, valuing the group at roughly £3.1 billion.
Ofcom, Competition and Markets Authority and the culture secretary must approve, with lawyers finalising the deal and an announcement possible within two weeks.

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