Sky has struck a £1.6bn deal to buy ITV's entire broadcast and streaming division, a blockbuster move that will create a new media empire second in reach only to the BBC – and, critically, larger than YouTube.
The acquisition, agreed after months of talks, hands Sky control of ITV's television arm, including its channels and streaming services. The plan, according to Helia Ebrahimi, Channel 4 News economics editor, is to forge a combined audience that outstrips the video platform owned by Google.
“Sky buys ITV's television business for £1.6bn to create a media empire second only to the BBC.”
ITV, a shareholder in ITN, which produces news for ITV and Channel 4, has been under mounting pressure as viewers shift online. The deal underscores the existential strain on traditional broadcasters racing to compete in a streaming-dominated landscape.
Neither company has commented on potential regulatory hurdles or the impact on jobs and programming. For Sky, which already owns Sky News, the purchase represents a dramatic bet on scale – absorbing a rival terrestrial channel at a time when the old model of linear television is fraying.
What remains unclear is how the deal will reshape the British media landscape, and whether it will face scrutiny over the concentration of ownership in a market where the BBC already commands the largest share of the audience.