One of the biggest takeovers in British media history is about to reshape the television landscape, with Sky buying ITV's TV and streaming channels for £1.6bn. The deal, announced on Monday, will combine Britain’s two biggest commercial broadcasters under the American ownership of Comcast, which has owned Sky since 2018. Talks over the purchase of ITV's media and entertainment business – including the ITVX streaming platform – have been under way since last year.
For viewers, the immediate impact is minimal. ITV is required by law to provide a free-to-air service until at least 2034 due to its public service broadcasting licence, meaning favourite shows will not suddenly disappear behind a paywall. “Gradually, though, content which might debut on free/live-to-air ITV might end up on a subscription platform,” said Caroline Frost, TV and podcast editor at Radio Times.
“Sky to buy ITV's TV channels for £1.6bn, with job cuts possible but major shows safe for now.”
In the short to medium term, the biggest programmes – Coronation Street, Love Island, Emmerdale, I'm a Celebrity – will remain on ITV and ITVX and continue to be made by ITV Studios, the broadcaster’s production arm. ITV Studios is not part of the acquisition; it will become a separate publicly traded company, ITV Studios PLC, still owned by ITV’s current shareholders. A supply deal is expected to ensure ITV Studios continues producing these shows for ITV.
But the deal raises questions about jobs. Executives from both companies have warned employees that the merger could lead to redundancies. Speaking after the acquisition was announced, they said there are “no guarantees” over jobs. Longer term, Sky may decommission some ITV shows or renegotiate contracts, and cost savings are expected from merging ITVX with Sky’s streaming services.
The takeover creates a new British media company – albeit one owned by an American giant – and positions Sky to compete more aggressively with Netflix and Disney+. For now, the shows you love are safe. But with no guarantees on jobs and the possibility of a subscription future, the landscape is shifting.
