Sky to Acquire ITV's Broadcast and Streaming Assets in £1.6bn Deal

Comcast-owned Sky announced on 6 July 2026 a purchase of ITV plc’s media and entertainment unit for up to £1.6 billion ($2.1 billion). The deal includes ITV’s free-to-air channels and ITVX streaming service, excludes ITV Studios, and transfers Love Productions (valued at £200 million). Sky will pay £1.2 billion cash at closing and may receive a further £200 million in 2028 if 2027 advertising revenue exceeds £1.7 billion. Completion is slated for H2 2027 pending CMA, Ofcom and DCM & S approval.

The DeskThe GuardianSky owner agrees £1.6bn for broadcaster ITVNew York TimesSky confirms deal to acquire ITV’s broadcast arm for £1.6bnSky agrees to buy British broadcaster ITV for up to £1.6 billionBBC NewsBBC News

ITV reaches about 40 million weekly viewers; ITVX has 16.5 million monthly users. Sky expects the combined platform to draw over 16 million monthly viewers. Market data put the merged entity at roughly 18 percent of TV + streaming viewing and 20 percent of home viewing. The deal targets £200 million annual cost savings and includes a £2.1 billion content-supply deal with ITV Studios (2028-2032).

The Desk

The merger creates a UK-scale broadcaster able to challenge US streaming giants while keeping ITV’s free-to-air remit to 2034. It adds ITV’s sports rights, such as the World Cup, to Sky’s portfolio. Regulators will review a combined ad-sales share estimated between 6.5 percent and 20 percent.

Sky confirms deal to acquire ITV’s broadcast arm for £1.6bn

Sky called the deal a defining moment delivering outstanding British programming. ITV’s board said the transaction protects its public-service licence, regional news and independent-producer quota. Both pledged editorial separation of ITV and Sky news.

BBC News

Observers warn US ownership may reduce media plurality and cause job cuts. The post-2034 public-service role and independent-producer share are also questioned.

Variety Magazine

Advertising-share estimates vary from 6.5 percent to 20 percent. ITV cites a 12-18-month review; Sky mentions a Phase 2 process. The £200 million earn-out is described both as performance-related and revenue-target.

Variety Magazine

• “McCall says: We’re very complementary, so you go from free to air all the way to high-end subscription service, and so I think as a combined business, it becomes relevant to many, many, many more people.” — Carolyn McCall, CEO, ITV plc

Variety Magazine

• “ Andrew Cosslett, ITV’s chair, said: “For over seven decades, ITV has played an important and cherished role in the public life of the nation.” — Andrew Cosslett, Chairman, ITV plc

The Guardian

• “Combined with Sky, the business would account for around 20% of all in-home viewing in the UK, second to the BBC and ahead of YouTube, and create a commercial streaming champion for the UK,” — ITV press release

Sky agrees to buy British broadcaster ITV for up to £1.6 billion

• “She added: "This is a defining moment for British media and an opportunity to build a stronger future for two of the UK's most loved and trusted brands.” — Dana Strong, CEO, Sky Group

Sky confirms deal to acquire ITV’s broadcast arm for £1.6bn

The CMA is expected to issue a Phase 2 decision within a year, after which the £2.1 billion content pact will be finalised and integration will begin.

The Desk