June 25, 2026
Comcast-owned Sky Group has reportedly agreed to acquire the media and entertainment business unit of U.K.-based ITV for $2.1 billion. The deal is expected to be announced in two weeks.
Satellite operator Sky will absorb ITV’s broadcast network, linear free-to-air channels, and the ITVX subscription streaming service with 900,000 paid subscribers and 16.4 million monthly active users for its free ad-supported tier.
Sky’s current standalone streaming service, NOW, operates in the U.K., Ireland, and Italy. It allows users to watch Sky’s entertainment channels (like Sky Atlantic), live sports, and movies without a satellite dish or long-term contract. The company also operates joint venture SkyShowtime with Paramount in 20 European markets, among other streaming assets.
The deal is expected to receive significant scrutiny from the U.K.’s Competition and Markets Authority, and separately Ofcom regarding the combination of the two company’s news reporting divisions.
ITV Studios, which will is not part of the deal and will remain as a standalone content company, will get Sky’s Love Productions, the reality-based producer of “The Great British Bake Off,” and “The Piano,” among other content, in an asset swap valued upwards of $160 million.
ITV Studios’ biggest shows include Peacock’s “Love Island,” “The Voice,” Netflix’s “Worst Roommate Ever,” “Queer Eye,” “Escaping Twin Flames,” and History Channel’s “Alone,” among other programming.
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