One of the biggest takeovers in British media history has been confirmed: Sky is to buy ITV's TV and streaming channels for £1.6bn, the companies announced on Monday. The deal, which has been in the works since last year, will create a new British media company – albeit one owned by the American giant Comcast, which already owns Sky.
For Sky, the acquisition of Britain's most watched commercial public service broadcaster makes strategic sense. It gains access to millions of viewers, scale and prominence on a free-to-air platform. The pay-TV, broadband and mobile company is believed to be aiming to build a commercial streamer that can truly rival Netflix and Disney Plus in the UK.
“Sky to buy ITV's TV channels for £1.6bn, but free-to-air shows like Love Island and Coronation Street will remain for now.”
But what does this mean for your favourite shows? In the short to medium term, very little. Caroline Frost, TV and podcast editor at Radio Times, says ITV is required by law to provide a free-to-air service until at least 2034 due to its public service broadcasting licence. “Gradually, though, content which might debut on free/live-to-air ITV might end up on a subscription platform,” Frost warns.
For now, the big shows – Coronation Street, Love Island, Emmerdale, I'm a Celebrity – will remain on ITV and ITVX, made by ITV Studios, the production arm that owns more than 60 production companies in Britain and around the world. Crucially, ITV Studios is not part of the deal; if the takeover goes ahead, it will become a separate company (ITV Studios PLC) still owned by current ITV shareholders. A “supply deal” is expected to ensure ITV Studios continues making those shows and that they stay on ITV.
Longer term, Sky could decommission some ITV shows or renegotiate contracts. As Frost notes, “You don't take over another company without believing there are savings to be made.” Some analysts point to potential synergies on the tech platform side, with ITVX and Sky's streaming services possibly merging in the future. But for viewers, the immediate future looks unchanged – the free-to-air promise holds until at least 2034, and the biggest shows will still be just a click away.