Sky to buy ITV's broadcast and streaming arm in £1.6bn deal

Sky has agreed to pay £1.6bn for ITV's broadcast and streaming division, ending months of talks between the two media companies. The deal, announced on Friday, sees Sky — which owns Sky News — acquire the entirety of ITV's media and entertainment arm, including its flagship channels and streaming service. The acquisition marks a major consolidation in British broadcasting, bringing together two of the country's biggest television groups under one roof. ITV's board has unanimously approved the sale, which is expected to close later this year subject to regulatory approval. The transaction will see Sky take over ITV's linear channels, its on-demand platform ITVX, and its production assets. For Sky, the deal strengthens its position as the dominant pay-TV operator in the UK, giving it control over a vast library of content and a direct competitor's distribution network. The £1.6bn price tag reflects the value of ITV's broadcasting infrastructure and its streaming subscriber base, which has grown steadily in recent years. Neither company disclosed further financial details or the exact breakdown of assets included. Sky's parent company, Comcast, backed the acquisition, which was first reported by Sky News in February. The deal is one of the largest in UK media since the 2018 takeover of Sky by Comcast. ITV's shareholders must now approve the sale at a general meeting. The move reshapes the landscape for British television, with two formerly rival broadcasters now under common ownership — raising questions about competition and the future of free-to-air programming.